Construction activity in Germany increases for first time since 2022

Neil Gerrard Senior Editor, Construction Briefing

07 January 2026

Construction activity finally returned to growth in December, for the first time since 2022, according to a new survey of construction buyers.

The Hamburg Commercial Bank (HCOB) Germany Construction Purchasing Managers’ Index (PMI) rose to 50.3 in December (where any score above 50.0 indicates a growth in activity), up from 45.2 in November.

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