December 19, 2014 / 9:37 AM / 5 years ago

German construction orders fall for fifth straight month

A worker is seen behind scaffoldings at a construction site near the Fernsehturm television tower in Berlin July 7, 2014. REUTERS/Thomas Peter

BERLIN (Reuters) - German construction contracts dropped by 4.5 percent on the year in October, their fifth consecutive monthly fall, data from the Federal Statistics Office showed on Friday, suggesting this sector of Europe’s largest economy is stuck in a rut.

While construction started the year on a strong footing due to an unusually mild winter, orders plunged by 11.9 percent in June and have fallen every month since.

Contracts declined by 1.0 percent in the first 10 months of 2014 compared with the same period last year, Friday’s data showed.

Reporting by Michelle Martin

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below