In Germany the index declined by 1.5 points, to 44.2, in Italy the index declined more, to 41.2 (previous value - 46.2).
The index reflects the state of the economy, as the construction industry accounts for up to 20% of GDP.
Construction activity is slowing down as supply is shrinking - costs are rising due to expensive energy.
Developers are also likely to build less, as demand will shrink due to the risk of economic recession and decrease in personal income.
It is very important to monitor business activity in the construction sector, as developers base their forecasts on the demand indicator on the horizon of 6-24 months.
