Employers in the construction sector hired 4,000 workers in May.
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The figures also showed the construction sector failed to rebound.
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Activity in the construction sector rose to 135.4 from 133.6.
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The construction sector fell 1.2 percent and was the worst performer.
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The European construction sector saw contrasting fortunes in the first quarter.
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Brexit doubts hit the commercial construction sector hardest, IHS Markit said.
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The construction sector, another source of jobs, also weakened in recent years.
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Construction sector and retailers also lost 19,000 jobs and 67,000 jobs, respectively.
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The bank is a key lender to Saudi Arabia's troubled construction sector.
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The construction sector grew 2.5 percent, slowing from a 3.5 percent increase.
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There has been a wave of dealmaking activity in the construction sector.
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Declines were also reported in the construction sector, which dropped by 0.7%.
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India's construction sector accounts for 8 percent of the country's gross domestic product.
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Canada's construction sector saw the biggest employment boost in July, adding 25,000 jobs.
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NCB is a one of the major lenders to the troubled construction sector.
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Gross fixed investment growth is shifting from the construction sector towards tradable sectors.
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The Dakota pipeline will create over 8,000 immediate jobs in the construction sector.
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More employers, especially in the construction sector, are reporting difficulties finding qualified workers.
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Januário expects Brazil's construction sector to rebound after a presidential election in October.
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The valuation is roughly in line with the average for the construction sector.
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A sub-reading for the construction sector rose to 61.4 from 58.5 in October.
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The project will create more than 9,000 jobs in the construction sector, he added.
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Manufacturing payrolls rose by 9,000 and employment in the construction sector increased by 16,0003.
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"Particularly the construction sector should remain an important growth driver in 2017," Brzeski said.
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Just about every key metric of China's construction sector has improved sharply this year.
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A sub-reading for the construction sector fell to 58.5 from 61.1 in September.
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Many moved east to Sydney and Melbourne to work in the construction sector there.
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The booming construction sector is currently one of the main growth drivers in Germany.
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Argentina's construction sector alone fell 11.8% in June versus June 2018, the data showed.
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"This is another positive update for the residential construction sector," said HIA economist, Diwa Hopkins.
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Eljamal said this could soften the blow to bank earnings from souring construction sector loans.
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Domestically, the construction sector remained robust as the government stepped up investment in infrastructure projects.
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Industrial utilization also rose to 87.7 percent in the construction sector, helped by residential building.
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Banks and construction sector stocks were the biggest sectoral fallers, both down around 2 percent.
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The province has large manufacturing and public sectors, and limited exposure to the construction sector.
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The decrease in hiring was led by the construction sector, where hiring fell by 73,000.
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TURKISH FINANCE MINISTER SAYS PUBLIC BANKS CUTTING LOAN RATES IS BOOSTING TURKISH CONSTRUCTION SECTOR -TWITTER
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The construction sector has also provided millions of jobs to Turkey's largely uneducated work force.
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The way we are doing (things) as a construction sector … is not sustainable long term.
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The private construction sector has so far failed to increase supply in response to soaring demand.
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Traders will keep an eye on a construction sector survey due for release at 0830 GMT.
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A survey this week had showed weaker than expected growth in Britain's construction sector in August.
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It has been relying on private consumption, a booming construction sector and government spending for growth.
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A sub-reading for the construction sector rose to 61.1 in September from 58.0 in August.
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Most analysts expect the construction sector to fare badly in the fallout from the Brexit vote.
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The table below shows a selection of SoftBank's investments in the real estate and construction sector.
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Attention now turns to a monthly business survey for Britain's construction sector, due at 0830 GMT.
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A key differentiator between aluminium and steel is the latter's dominant use in the construction sector.
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The delayed payments are believed to total over $20 billion and be concentrated in the construction sector.
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There was, however, an increase in the number of workers quitting their jobs in the construction sector.
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In the construction sector completions are set to grow as strong starts feed through the development process.
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There have been tremors in the home construction sector, which may also be driving some investors away.
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Output of steel and cement - crucial inputs for a fast-growing construction sector - also posted strong growth.
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A warm January also helped the construction sector add 44,000 workers, leading all industries for the month.
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"The construction sector remains the problem child of the UK GDP breakdown," Scotiabank economist Alan Clarke said.
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Cuts in public investment have taken a toll on domestic demand and activity in the construction sector.
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At the same time, rock-bottom interest rates continue to support private consumption and the construction sector.
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Small businesses are the most nervous, especially in the construction sector and at bricks-and-mortar retailers.
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CNBM has been struggling with industrial overcapacity, plunging cement prices and a downturn in the construction sector.
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Other employers, particularly in the construction sector, said the government should fund more training for British workers.
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Hopefully, once the current situation comes under control, there could be increased demand for the construction sector.
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The town's population has reached about 1,500 and continues to expand, putting demands on the construction sector.
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Most are from the Philippines, South Asia and Africa, and about 800,000 work in the construction sector.
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Several earnings disappointments weighed, with companies continuing to flag cost pressures and difficulties in the construction sector.
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Britain's construction sector shrank by 1.0 percent, its worst quarterly performance since the third quarter of 2012.
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Employment gains were led by the construction sector, which added 61,000 jobs, the most since March 2007.
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Once the realm of racers and hobbyists, drones are also putting their stamp on the construction sector.
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Led by a surge in mining and logging and a recovering construction sector, Georgia is hiring again.
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The construction sector, meanwhile, grew by 4.3% year-over-year in the fourth quarter, said the ministry.
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Economists questioned whether New Zealand's growth would be that strong, given capacity constraints, particularly in the construction sector.
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Last month's gain was thanks to the booming construction sector and capital expenditure in China, the data showed.
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A survey by IHS Markit showed growth in the construction sector hit an eight-month high in November.
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One, it's not only in the energy sector, but also in the health sector, in the construction sector.
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The squeeze on the construction sector has become a major issue for the business community in the kingdom.
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In the long-suffering construction sector, activity rebounded in April and was expected to grow further in May.
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Output from the construction sector expanded 7.5 percent from a year earlier, the slowest pace in nine quarters.
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Capacity in the construction sector rose to 89.1 percent from 87.6 percent on an overall increase in activity.
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Overall business conditions improved markedly in the construction sector in July, followed by personal & recreation services and wholesale.
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The high rejection rate has affected the construction sector, which employs a tenth of the non-farm workforce.
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Employers in the construction sector hired 4,000 workers in May after adding 30,000 jobs to payrolls in April.
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Another month of job gains is expected in the construction sector after employers hired 33,000 workers in April.
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In the first quarter of 2017, the construction sector actually shrank, by 3.7 percent, over the previous quarter.
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Italy's construction sector has been dogged for years by slow growth, cuts in government spending and overseas setbacks.
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Solid household spending and a booming construction sector are expected to prop up growth in the current quarter.
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Paz Corp, Socovesa, Salfacorp, and Ingevec, among others firms, participate in the Chilean real estate and construction sector.
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The construction sector is one of the top sources of demand for industrial metals such as copper and zinc.
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Growth has been underpinned by rising household demand and a pick-up in investment, mostly in the construction sector.
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Agbal also said taxes would be reduced on certain housing projects, which he said would boost the construction sector.
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The PMI reading on the construction sector showed a solid pickup to 62.5 in July from 61.4 in June.
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"Last but not least, activity in the booming construction sector likely increased significantly, despite capacity constraints," the Bundesbank added.
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Manufacturing has been hit particularly hard by China's faltering construction sector, which drives final demand for many industrial products.
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Investment growth in the construction sector should stabilise as approvals for new building starts reach a peak this year.
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This year the Swedish construction sector is expected to employ 320,000 people of a total population of 9.9 million.
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Output from the construction sector declined 0.3 percent from three months earlier, while the service sector gained 0.8 percent.
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"August survey data indicated that the UK construction sector continued to experience a slowdown this summer," a release said.
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The current stimulus pulse is largely bypassing the residential construction sector, another key end-use area for many base metals.
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The ITB, which tracks companies in the home construction sector, is on pace for its worst month since June 2010.
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Chinese firms are implementing a raft of projects in the region, mainly in energy but also in the construction sector.
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Fernando is particularly positive on the outlook for the construction sector, noting one of his top picks is Access Engineering.
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By industry, the construction sector lost 18,900 jobs, while the trade sector, which includes retail and wholesale jobs, shed 22,100.
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Latin American builders were the keenest because prospects for the construction sector in the rest of the region were dim.
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Lending to small companies in the construction sector rose to 155.5 from 151.4, while transportation rose to 0.30 from 93.7.
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There were roughly 207,000 unfilled construction sector jobs at the end of December, according to the Bureau of Labor Statistics.
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The ZDB association includes more than 35,000 small- and medium-sized firms that form the backbone of Germany's construction sector.
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Manufacturers and the construction sector bore the brunt of a global slowdown amplified domestically by trade conflicts and Brexit uncertainty.
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The regime makes between $1.2 billion and $2.3 billion from its citizens' labor, mostly in the forestry and construction sector.
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He also said morale among firms in the construction sector was at its highest level since German reunification in 1990.
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Developers also had to contend with fewer international buyers, who in past years were active in the new-construction sector.
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Travel restrictions due to the coronavirus pandemic are now hitting Dubai's tourism, which supports - among others - the emirate's construction sector.
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A sustained rebound in home values could prove a saviour for the construction sector, which has seen a severe downturn.
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Overall, the building and construction sector accounts for 7.9 percent of total lending among Saudi banks, central bank data shows.
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Europe's biggest economy grew by 0.4% from January to March, propelled by higher household spending and a sprightly construction sector.
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Over the past two decades, China has seen its labour productivity in the construction sector grow by almost 7% a year.
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The rating also reflects CG's high business concentration risk in the domestic construction sector, which is closely correlated with the economy.
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Erdogan, a self-described "enemy of interest rates", wants to see cheaper credit flowing to companies, particularly in the construction sector.
|
|
For ArcelorMittal, and many other steelmakers, the automotive industry is second only to the construction sector in terms of steel sales.
|
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The construction sector has been hurt by government spending cuts on new projects and delayed payments spurred by low oil prices.
|
|
Friday's survey for the services sector also showed cooling momentum in the construction sector, which the NBS attributed to colder weather.
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"Recent outsized seasonal draws in China steel [inventories] point to improving construction sector activity," analyst Timothy Thein wrote in a note.
|
|
Indeed, sentiment improved more than expected in April, driven by across the board optimism among industry, services, construction sector and households.
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|
Group sales totaled 32.428 billion euros, down 2 percent from a year earlier, as a weak construction sector in France weighed.
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The recovery of the homebuilding industry has been circuitous, but the trend of an ever healthier residential-construction sector is unmistakable.
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|
Construction sector showing signs of a slowdown More funding for infrastructure could also boost blue-collar employment growth in the heartland.
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|
Yanbu Cement, a pure play on the kingdom's construction sector, jumped 7.1 percent after releasing its fourth quarter earnings on Sunday.
|
|
While the wholesale, transport and financial services sectors were more robust, the construction sector expanded at a slower pace in January.
|
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Investors are fretting about the impact of a severe slump in the Saudi construction sector on the quality of bank loans.
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|
The Gulf construction sector has slowed since mid-2014 after the slump in global oil prices forced governments to rein in spending.
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|
Investors said a survey of the UK construction sector, due at 0830 GMT, would be unlikely to have much impact on sterling.
|
|
Erdogan, self-described "enemy of interest rates", wants to see lower borrowing costs to keep credit flowing, particularly to the construction sector.
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|
The construction sector grew for the first time in 10 quarters on an annual basis, led by private and government sector work.
|
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Turkey's construction sector – a major driver of the economic boom during much of Erdogan's 16-year rule – has been particularly hard hit.
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With road projects costing upwards of six-times as much as in other countries, Russia's road construction sector is fraught with corruption.
|
|
"In Switzerland itself, there is also a risk that the construction sector will undergo a sharper correction than is forecast," it added.
|
|
"In addition, the construction sector has already reached its capacity limit, which means it can hardly cope with more demand," Rehberg added.
|
|
Washington on Thursday imposed sanctions on the Iranian construction sector and trade in four materials used in its military or nuclear programs.
|
|
This trend should be sustainable as underpinned by positive factors such as increasing consumer confidence and a recovery in the construction sector.
|
|
Thousands of people have lost jobs in the manufacturing and the construction sector and debt-ridden companies have cut their investment plans.
|
|
The German economy will remain driven by domestic consumption thanks to rising wages, a robust labor market and a strong construction sector.
|
|
Higher state spending on social housing, also to accommodate a record-influx of migrants, is giving the construction sector an additional push.
|
|
However, the construction sector, which underpinned years of strong economic growth in Turkey, shrank 24%, the Turkish Statistical Institute data (TUIK) said.
|
|
However, some analysts were concerned the sale of the engineering and services business could be hit by softening conditions in the construction sector.
|
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Erdogan, a self-described "enemy of interest rates", wants to keep cheap credit flowing, particularly to the construction sector, to stoke economic growth.
|
|
That is bad news for companies, especially those in the hard-hit construction sector, which is most anxious for mortgage costs to drop.
|
|
That compared to Caterpillar's warning that sales in the country would be flat in the construction sector versus 40 percent growth in 2018.
|
|
Jeff Hill is global leader of The Boston Consulting Group's engineering and construction sector and a member of BCG's global infrastructure steering committee.
|
|
Data released on Wednesday showed the manufacturing sector was barely expanding in May and economists forecast the construction sector to fare slightly better.
|
|
This kind of exploitation is especially common in the construction sector, particularly in the unregulated areas of brickmaking and stone quarrying, experts say.
|
|
Bankers with knowledge of the loan said the inclusion of the collateral pledge was linked to persistent concerns about the Saudi construction sector.
|
|
Unusually warm winter weather helped boost the February numbers, especially in the construction sector, which added 21625,2900 jobs, the most since March 220006.
|
|
The construction sector, linked in part to public works, grew 8.4 percent year-on-year in April and agricultural output grew 4.6 percent.
|
|
"The construction sector is likely to continue to flourish, and the service sectors are likely to continue their expansion," the central bank added.
|
|
But the home construction sector typically lags the house purchasing market as developers wait for longer-term forecasts before greenlighting projects, added Moradi.
|
|
Wednesday's PMI showed new business volumes declined for the first time since August 2016, hurt by a slowdown in the commercial construction sector.
|
|
Erdogan, a self-described "enemy of interest rates", wants to see lower borrowing costs to keep credit flowing, particularly to the construction sector.
|
|
Japanese steelmakers are enjoying solid domestic demand from automakers and the construction sector, which is busy with projects for the 2020 Tokyo Olympics.
|
|
Investors have dumped shares in the construction sector amid worries about mounting debts after Carillion's collapse and the impact of Brexit on real estate.
|
|
"The construction sector is going through a soft landing after years of fast growth," said Kim Doo-un, an economist at Hana Financial Investment.
|
|
Asia's fourth largest economy grew at its quickest pace in six quarters in January-March period, thanks to robust construction sector activity and exports.
|
|
The construction sector, which has also been providing impetus for the economy as exports weaken, will also witness a slowdown next year, Zeuner added.
|
|
The country's giant construction sector is expected to return only slowly from its holiday break as curbs on movement restrict the flow of labour.
|
|
UNPAID BILLS Turkeys construction sector a major driver of the economic boom during much of Erdogans 16-year rule has been particularly hard hit.
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Analysts at Macquarie Bank estimate that Chinese steel usage in the construction sector peaked in 2013 and will be 20 percent lower by 2020.
|
|
DSI had reported worsening earnings in seven of the preceding eight quarters, a slump it blamed on a slowdown in the Gulf construction sector.
|
|
Citigroup upgraded shares of Caterpillar to buy from neutral on Monday, saying the industrial giant will benefit from improvements in the Chinese construction sector.
|
|
"The London construction sector is particularly exposed to potential fallout from Brexit," said Manny Aparicio, national head of project management at property consultancy Naismiths.
|
|
That of Shanghai steel rebar, used primarily in the construction sector, was last week trading at levels not seen since the end of 22014.
|
|
Earlier today, there was a big fall in the purchasing managers' index of the construction sector, taking it to its lowest level since 2009.
|
|
The residential construction sector, on the other hand, is seeing some signs of slowing after a blistering pace of growth over the past decade.
|
|
"If there is this steel mill in our country, it will help the construction sector a lot," said Ministry of Commerce spokesman Seng Thai.
|
|
The construction sector, meanwhile, expanded by 1.9 percent in January, reversing seven months of declines and posting its largest monthly gain since July 2013.
|
|
Three construction companies - Barratt, Bovis and Unite Students - also acknowledged specific risks of modern slavery in the construction sector and in their own businesses.
|
|
The construction sector, one of the biggest employers after agriculture, grew 7.8 percent year-on-year, slower than 8.7 percent in the previous quarter.
|
|
The Saudi government's budget difficulties have been felt most strongly in the construction sector, where contractors employ large work forces for huge infrastructure projects.
|
|
The government's critics say the legal framework surrounding the construction sector has been repeatedly watered down, creating loopholes that developers can exploit for profit.
|
|
Economists say a 14 percent cut to this year's state investment budget could also begin to hurt low income workers in the construction sector.
|
|
In turn, the construction sector - long a beneficiary of Turkey's credit-fuelled building boom - contracted 8.7 percent in the fourth quarter as demand slowed.
|
|
LIMA (Reuters) - Peru's opposition-ruled Congress unanimously approved a bill on Thursday that aims to keep a massive corruption probe from paralyzing Peru's construction sector.
|
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Italy's construction sector was one of the worst hit in Europe during the economic crisis, partly because of the relatively small size of its players.
|
|
"February's data shows that the construction sector has been one of the biggest losers from the Brexit vote," said Samuel Tombs, economist at Pantheon Macroeconomics.
|
|
Afghanistan does not share a land border with Turkey, but Afghans enter Turkey from Iran to work as shepherds, farmers or in the construction sector.
|
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It is expected to give Germany's booming construction sector an additional push, with real-estate companies such as Vonovia and Deutsche Wohnen among the beneficiaries.
|
|
Although it's not the sexiest of industries, the hefty construction sector in 228.6 attracted not only the attention but, more importantly, the dollars of investors.
|
|
Canada lost 16,000 jobs in May, the first decline in three months, as hiring fell in the construction sector, according to a report from ADP.
|
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Japanese steelmakers are enjoying solid domestic demand from automakers as well as the construction sector, which is busy with projects for the 2020 Tokyo Olympics.
|
|
CN said its Nicaragua business was being hurt by a downturn in the construction sector, which shrank 21% in 2018, according to central bank data.
|
|
There were 404,000 job openings in the construction sector in April, the highest since the Great Recession, according to the National Association of Home Builders.
|
|
Investors were also concerned about the impact high inflation and a corruption scandal involving the construction sector would have on Argentina's economic growth, traders said.
|
|
"The fundamental challenge the construction sector faces is that its default business practices facilitate forced labor exploitation," said Andrew Wallis, head of the charity Unseen.
|
|
The UK government remained "committed to supporting Carillion and other firms in the UK's world-leading construction sector as they trade abroad," a spokeswoman said.
|
|
The construction sector is a major focus for apprenticeships, but the administration said they could help train workers in agriculture, engineering and healthcare as well.
|
|
The construction sector has shrunk considerably since the end of the last decade and now accounts for between five and six percent of economic output.
|
|
Erdogan, who calls himself an "enemy" of interest rates, wants to make it cheaper to borrow money, to spur the construction sector and boost growth.
|
|
The Bundesbank said that activity in the German construction sector was cooling after mild weather in the winter months boosted activity in the first quarter.
|
|
IHS Markit and CIPS' latest PMI release for the construction sector — which measures expectations of growth — came in at 51.1 for the month of August.
|
|
Industrial production meets expectations Alongside data from the construction sector, the ONS also released data for the manufacturing sector, as well as industrial production data.
|
|
The business sentiment indicator for the construction sector also rose to 104 points in November from 103 in October, reaching its highest point since December 2007.
|
|
In 2014, Matthew Noszka, a then-22-year-old in Pittsburgh, posted a shirtless shot of himself while doing an odd job in the construction sector.
|
|
In January, Britain's construction sector came close to contracting for the first time since September as uncertainty linked to Brexit caused new orders to dry up.
|
|
Analysts surveyed by Reuters had forecast the reading would pick up slightly to 50.5 as heavy industry and the construction sector emerged from a winter lull.
|
|
Construction sector gained 2.3% after the Typhoon Hagibis has caused extensive damages, with rivers flowing out of banks in more than 50 places across the country.
|
|
In Spain, as the crash hit the construction sector, temporary contracts as a share of the total fell, from 22012% in 22010 to 22014% in 2009.
|
|
Jenisch noted that while a global economic slowdown and the U.S.-China trade dispute had hit industries like car manufacturing, the construction sector had been unaffected.
|
|
Global construction sector growth in particular would recover to a rate of 753 percent in 2017, compared to an average of 3.5 percent from 2014-16.
|
|
So we've been experimenting with being the delivery service for the health sector, the construction sector and especially hospitality ... it is an exciting time for us.
|
|
The property gains have prompted a recovery in the construction sector, which is one of Portugal's biggest employers, after years in the doldrums during the crisis.
|
|
The upward revision owed mostly to the construction sector, which grew by 1.3 percent from a quarter earlier, faster than a 0.5 percent expansion estimated before.
|
|
Earlier, in the day, a softer-than-expected construction sector survey had a fleeting impact on the pound, which has been plagued by worries over Brexit.
|
|
The construction sector accounts for nearly half of all posted workers, and the practice is also popular in the manufacturing industry and personal and business services.
|
|
The country hosts many overseas contract workers from India, Sri Lanka, Bangladesh, and the Philippines, who are mostly employed in the construction sector and service industry.
|
|
The country's factories had their strongest two months of 2017 in July and August, and the construction sector grew for the first time in three months.
|
|
The Bundesbank said that in addition to higher state spending, a humming construction sector and strong private consumption should help the economy in the second quarter.
|
|
But in a statement, both senators said the bill could help expand the use of carbon capture technology, reduce carbon emissions and support the construction sector.
|
|
That's needed because the pace of job gains in the construction sector has flatlined in recent months; the sector has added just 31,000 jobs since May.
|
|
China dwarfs everywhere else, though, when it comes to metals demand growth and it's the continued strength in the country's construction sector that is underpinning prices.
|
|
Salini said in November its non-binding offer was for activities in the construction sector, adding it was analysing a possible industrial integration with its rival.
|
|
On Wednesday Salini, Italy's biggest infrastructure builder by sales, said it was closely following developments involving companies in the construction sector in Italy and abroad, including Astaldi.
|
|
The Italian builder said on Thursday it was closely following developments at companies in the construction sector, including troubled rival Astaldi, but had taken no decision yet.
|
|
British construction output fell 0.7 percent in the second quarter, and most analysts expect the construction sector to fare badly in the fallout from the Brexit vote.
|
|
"Steel demand particularly in the construction sector has slowed down a bit as some real estate developers face financing issues at home," said a Shanghai-based trader.
|
|
The data came a day after an equivalent survey for the construction sector showed activity picked up in February but that the pace of new orders slowed.
|
|
Among six industries, the mining and construction sector was the only one with a positive improvement in the outlook, compared with a year ago, the survey said.
|
|
"(The survey) provides an indication that the construction sector has been treading water at the very best in recent months," Tim Moore, economist at IHS Markit, said.
|
|
"The cold winter weather is still taking its toll on the construction sector, which shrank for the second month in a row," ING economist Carsten Brzeski said.
|
|
The economy ministry said the booming construction sector, helped by low interest rates and increased government investments in infrastructure, was providing a strong impulse for the economy.
|
|
Meanwhile, the chairman of the China Iron and Steel Association (CISA) told the same conference demand was being driven by sustained government investment in the construction sector.
|
|
The Bundesbank said on Monday that German growth should rebound in the second quarter thanks to higher state spending, a humming construction sector and strong private consumption.
|
|
Growth slowed amid a contraction in the mining and construction sector in October, said Slamet Edy Purnomo, a Financial Services Authority (OJK) deputy commissioner for banking surveillance.
|
|
"We have seen some demand from state banks to cover oil bills, and there is demand from the construction sector as well," said a currency dealer, requesting anonymity.
|
|
Britain's construction sector came close to contracting for the first time since September last month as uncertainty linked to Brexit caused new orders to dry up, data showed.
|
|
A purchasing managers' index (PMI) for the construction sector was expected to show activity at 50.8 for February, according to analyst expectations, down marginally on the previous month.
|
|
Abans should also see some margin upside from its central air-conditioning business, which has built a strong sales pipeline owing to the boom in the construction sector.
|
|
"Despite a strong start for the pound, dismal construction sector data and a strengthening dollar saw sterling drop below $1.32," said City Index senior market analyst Fiona Cincotta.
|
|
That could be good for growth investors, who may find opportunities in the busy construction sector, but as a value manager, Lau isn't finding a lot of buys.
|
|
Growth in the German economy, Europe's largest, is being driven by a booming construction sector, in which sentiment in is the strongest since reunification in 1990, added Wohlrabe.
|
|
Activity in the construction sector, a major driver of growth in 2017, was almost steady with only a very modest pullback seen this month, the PMI survey showed.
|
|
On Friday, the Bureau of Labor Statistics reported nonfarm payrolls increased by 235,000 jobs in February, as the construction sector recorded its largest gain in nearly 10 years.
|
|
The Commerce Department announced Thursday that spending in the construction sector fell 1.4 percent for the month, the biggest drop since a 2.9 percent fall a year ago.
|
|
But the solar tiles have come onto the market at a time when the country is experiencing a policy shift on utilizing solar energy in the construction sector.
|
|
Still, the buying was surprisingly strong even as steel mills and copper fabricators prepared to slow output for weaker demand from the construction sector during the winter months.
|
|
A purchasing managers' index (PMI) for the construction sector was expected to show activity at 52.5 for December, according to analyst expectations, down marginally on the previous month.
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However, the improvement was expected to be smaller for micro-businesses, for companies located in the central and southern regions and for those operating in the construction sector.
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Nonfarm payrolls rose by 235,000 jobs as the construction sector recorded its largest gain in nearly a decade due to unseasonably warm weather, the U.S. Labor Department said.
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While hiring was strong across most sectors, the construction sector added 6900,2628 jobs last month, and professional business services, which includes jobs with higher salaries, hired 28503,22019 employees.
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It was the highest number of approvals granted in a first quarter since 2004, showing that last year's positive trend in the construction sector is extending into 2016.
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Africa's most industrialised economy has over the years cracked down on price-fixing cartels in the construction sector and recently investigated steel, auto component and glass products industries.
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President Michel Temer also plans to announce new measures next week to increase productivity and bolster the construction sector, said the official, who requested anonymity to speak freely.
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The consensus narrative is that the construction sector will start losing momentum imminently before entering a period of much slower growth over the second half of this year.
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Nonfarm payrolls rose by 235,1.06653 jobs as the construction sector recorded its largest gain in nearly a decade due to unseasonably warm weather, the U.S. Labor Department said.
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The yawning gap between property starts and completions implies that at some stage copper usage in China's construction sector will rise as completions start catching up with starts.
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A widely-watched survey published on Thursday showed Britain's construction sector fell to a three-month low in December, though businesses were more upbeat about the coming year.
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Japanese steelmakers are enjoying solid domestic demand from automakers and machinery manufacturers as well as the construction sector, which is busy with projects for the 2020 Tokyo Olympics.
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Dreams punctured Sardar Md Insan Ali from Bangladesh hoped his earnings from Singapore's construction sector would translate to a better life for his parents, wife and young child.
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US-based labor rights group Solidarity Center estimates Cambodia's construction sector workforce to be 300,000 strong, with an average salary of about $7 per day for unskilled laborers.
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As part of a reform plan announced this month by Turkish Finance Minister Berat Albayrak, loans in the energy and construction sector would be taken off banks' balance sheets.
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Inercom Bulgaria, part of a group that operates six photovoltaic energy installations with an installed capacity of 23 megawatts and is active in the construction sector, declined to comment.
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Canada lost 16,000 jobs in May, the first decline in three months, as hiring fell in the construction sector, according to a report from ADP, a human resources company.
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New activity in the Saudi construction sector has slowed in recent months as a slump in oil prices has pushed the government to cut spending on non-essential projects.
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For Modi, a healthy construction sector is vital if he is to fulfill his promise of boosting job creation for the one million Indians joining the workforce every month.
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Nonfarm payrolls rose by 235,000 jobs last month as the construction sector recorded its largest gain in nearly 10 years due to unseasonably warm weather, the Labor Department said.
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MEXICO CITY (Reuters) - Mexican gross fixed investment fell for a fourth straight month in May as the construction sector continued to decline, the national statistics agency said on Tuesday.
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"The scale and magnitude of the problem is massive," said Chandan Kumar, founder of "Blood Bricks" - a campaign launched two years ago to expose abuses in the construction sector.
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Erdogan, a self-described "enemy of interest rates" wants to see more cheap credit flowing to the real economy, particularly to the construction sector, to keep economic growth going.
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Private entrepreneurs have also redeveloped hundreds of apartment buildings in old parts of Lisbon and other areas of Portugal to rent to tourists, helping the country's flagging construction sector.
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Japanese steelmakers are enjoying solid local demand from automakers and machinery manufacturers as well as the construction sector, which has been in full swing for the 280 Tokyo Olympics.
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Higher spending on social housing and special tax incentives for investors who build flats in urban areas are expected to give the construction sector an additional push this year.
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DUBAI, Feb 11 (Reuters) - A slowdown in Dubai's real estate and construction sector will lead to more cases being filed with the emirate's arbitration centre, the body's chairman said.
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Demand for steel from the construction sector is forecast to slide 3.1 percent from a year earlier, while demand from manufacturing is seen dropping 1.7 percent for the quarter.
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The construction sector last month warned that British infrastructure faced "severe setbacks" if Britain did not train enough workers to stem a shortfall in laborers from European Union countries.
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But senior industry sources told Reuters that the firm was in the construction sector and that at least several other sizeable companies in the industry faced the same problem.
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"The decline in gross domestic product in January-July was caused by a decline in services in the construction sector of 30.7 percent," the committee said in a statement.
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Confidence in Argentina was also shaken by a major corruption scandal in the construction sector, expected to damage economic growth already hit by a drought that crippled vital agricultural production.
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The company said it may make "targeted investments" in the engineering and construction sector to maintain its leadership, while at the same time considering "strategic options" for its drilling business.
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Output from the construction sector declined 0.3 percent on-quarter in seasonally adjusted terms, the sharpest decline in two and a half-years after posting robust expansion throughout last year.
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The figures reflected seasonal factors like slower recruitment in the construction sector over the winter months as well as weaker job growth in both the services and the manufacturing sectors.
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On October 11th the Bank of Portugal, the central bank, revealed that 16.5% by value of corporate loans were non-performing, and as much as 36% in the construction sector.
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The construction sector, previously a powerhouse behind the country's robust economic growth, saw its own activity at just 4 percent and profitability expectations fell to the lowest levels since 2009.
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"The construction sector is recognized around the world as one of the highest risk industries for workers to be exploited in forced labor," said British anti-slavery chief Kevin Hyland.
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Output in the construction sector rose by 2.2 percent in September while it fell by 1.0 percent in the intermediate goods branch and by 3.3 percent in the energy sector.
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But that latter number is ludicrous, because the entire U.S. construction sector (including housing) is only $1.4 trillion per year and there's just not that much extra capacity out there.
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It's a much-needed shot in the arm for the construction sector, which represented 7% of GDP in 2018 and had been booming thanks to easy credit and government spending.
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Spain's economy slumped for nearly five years after a burst property bubble sent prices falling as much as 40 percent, hit the construction sector and left millions out of work.
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"We are being very careful about lending to the construction sector," one senior executive at a foreign-owned bank said, asking not to be named for fear of offending the government.
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NBS said the construction sector grew 211.5 percent in January to March, compared with 22.7 percent a year ago due to low investment in the activity during the period under review.
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Banking shares have been underperforming the general index over the last several months as an illiquid construction sector - which makes up a large portion of corporate loans - weighed on market sentiment.
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A purchasing managers' index (PMI) from the construction sector was due at 0930 GMT but was not seen as likely to impact sterling much because of the focus on May's speech.
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CLOSING THE GAP The yawning gap between property starts and completions implies that at some stage copper usage in China's construction sector will rise as completions start catching up with starts.
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The majority of the economy, fueled by consumers and service-sector workers, is doing well, as is the construction sector, said Ward McCarthy, managing director and chief financial economist at Jefferies.
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"The push for lower interest rates may be related to trying to increase the contribution of the construction sector to growth," said Muammer Komurcuoglu, an economist at Istanbul brokerage Is Investment.
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Alava's labour market is less volatile than that of Spain because of the presence of a large manufacturing sector and an extensive public sector and decreasing reliance on the construction sector.
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EU citizens fill key roles in Britain's state-run health service, construction sector and many professional jobs, with British business leaders keen to retain unfettered access to the continent's labour market.
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Some banks, depressed by concern about Saudi Arabia's economic slowdown and the threat of bad debt in the slumping construction sector, are trading below what analysts consider to be fair value.
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The sub-index for the construction sector rebounded 1 percent point to 61.4, likely due to an infrastructure spending spree that hit the highest in at least three years in February.
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A booming construction sector in fast-growing economies like India has lead to a surge in illegal sand-mining, where poor laborers risk all by diving into rivers to extract sand.
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But the company last month forecast first-quarter profit below Wall Street estimates, citing lower average selling prices of steel sheets and delay in shipments to customers in the construction sector.
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A revival in prices could also prove a blessing for the construction sector which has seen a severe downturn in new home approvals, particularly for the once red-hot apartment sector.
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A revival in prices could also prove a blessing for the construction sector, which has seen a severe downturn in new home approvals, particularly for the once red-hot apartment sector.
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It was the highest number of approvals granted in the first five months since 2000, showing that last year's positive trend in the construction sector is set to continue in 2016.
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A sustained rebound in prices could prove a saviour for the construction sector, which has seen a severe downturn in new home approvals, particularly for the once red-hot apartment sector.
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German aluminium producer Trimet Aluminium is looking to increase production as part of its push to increase supply to the auto construction sector, betting on growth in electric vehicles, the sources said.
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However, Fitch continues to assess Kenya's medium-term growth potential as strong, sustained by improved security that has fuelled a recovery in tourism and high public spending that supports the construction sector.
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The construction sector is forecast to continue its solid performance, helped by housing shortages in urban areas and low interest rates that have encouraged more people to buy homes instead of renting.
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Italian state lender CDP is pushing Salini Impregilo to set up a hub comprising several troubled Italian groups in the construction sector, including ailing Astaldi, Italian daily Il Messaggero reported on Saturday.
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Declining economic sentiment in the euro zone fall was caused by declining optimism among managers in the manufacturing, services and retail sectors, while the construction sector showed a small improvement in sentiment.
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The World Bank said textile exports had moderated and the construction sector showed signs of slowing, but other manufacturing exports had increased and Cambodia was also drawing more tourists - particularly from China.
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"They've basically decided they were a little bullish perhaps in the budget around some of the constraints in the construction sector," Finance Minister Steven Joyce told reporters, referring to previous Treasury forecasts.
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A sustained revival in prices could also prove a saviour for the construction sector which has seen a severe downturn in new home approvals, particularly for the once red-hot apartment sector.
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"Volumes from commercial, infrastructure and major projects activity, and margin improvements are expected to more than offset the impacts of a moderating residential construction sector," Boral Chief Executive Officer Mike Kane said.
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Kana said ATON was taking advantage of share price weakness that he attributed to declining valuations of rivals in the construction sector and ATON voting against its share buyback program last year.
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The company, which has dominated the construction sector for years, is crucial to the kingdom's plans for tourism and infrastructure projects aimed at diversifying the economy away from oil revenues by 2030.
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A sustained rebound in prices could also prove a saviour for the construction sector which has seen a severe downturn in new home approvals, particularly for the once red-hot apartment sector.
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Rosstat, the statistics service which reports to the ministry, ramped up its construction sector growth for the first 11 months of last year to 5.7 percent from the previously reported 0.5 percent.
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He said the units would be based on close study of such units built in China and that the Russian government was discussing its plans with Chinese partners in the construction sector.
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Australian home prices have been falling for nearly two years, but recent signs of stabilisation in major cities like Sydney and Melbourne may prove to be a blessing for the construction sector.
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Some economists believe the price revival could prove a blessing for the construction sector which has seen a severe downturn in new home approvals, particularly for the once red-hot apartment sector.
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Some economists believe the price revival could prove a blessing for the construction sector, which has seen a severe downturn in new home approvals, particularly for the once red-hot apartment sector.
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A recent report from the Federal Reserve Bank of St. Louis found that the construction sector accounted for a little over a third of the decline in output in the past recession.
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"We are thinking of people who want to digitally transform the construction sector," he was quoted as saying, adding that a potential investor could be a company pursuing strategic interests or private equity.
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Merger and acquisition activity continued to drive shares with Irish building materials firm CRH jumping 5 percent, bolstering the construction sector, after it agreed to buy U.S. cement maker Ash Grove Cement Co .
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Data showing growth in Britain's construction sector hit a one-year low in August - hurt by an investment slump in the commercial sector as Brexit uncertainty weighed - had little effect on the currency.
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"Metal producers will carefully follow the situation in the construction sector and infrastructure, which accounts for about 80 percent of total demand in the country," NLMK said in a statement given to Reuters.
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Along with U.S. jobs data on Friday, the Bank of England's quarterly inflation report is this week's main set-piece and Britain's PMI survey of construction sector sentiment will be watched on Tuesday.
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The World Bank said Kenya can quicken economic growth by boosting its construction sector, through offering innovative housing financing through the creation of mortgage refinance companies and the provision of housing finance guarantees.
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And a reading on the construction sector rose to 63.9 from 61.4 in November, which was surprising given slowing property investment and the seasonal decline in building activity usually seen in colder months.
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More than three quarters of the 165,000 EU nationals working in Britain's construction sector come from the 10 relatively poor central and eastern European countries that joined the EU between 2004 and 2007.
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It dropped to $1.3222 overnight, its lowest in almost three weeks, after data showing a surprise contraction in the construction sector stoked worries about economic uncertainty surrounding Britain's exit from the European Union.
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The bankruptcy of Carillion in January 2018 was seen as a watershed for Britain's construction sector that ended a race to the bottom in terms of pricing of bids for public sector work.
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Interestingly, those of rebar have fallen harder and faster than those of coil, attesting to a broader divergence in fortune between those mills servicing the construction sector and those feeding the manufacturing sector.
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The auction, which is set to officially launch after the summer break, may attract companies from the construction sector, such as Strabag, Vinci, Bouygues and Caverion as well as other private equity groups.
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A 1.8 percent rise in output in the construction sector and an surge of 2.6 percent in energy output were not enough to offset a 2.3 percent fall in manufacturing, the data showed.
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BUDAPEST, July 14 (Reuters) - Output in Hungary's construction sector rose 35.4 percent year on year in May, after a 22.1 percent annual rise in April, the Central Statistics Office (KSH) said on Friday.
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Even in the construction sector, which looked set for a windfall - Ardern's hallmark policy was to increase the housing supply - there are grumbles because of delays in permits and a construction worker visas.
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Chinese rebar prices hit a near nine month low on Monday on worries over slowing demand from the construction sector, growing inventories and the potential trade war between the world's two largest economies.
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LONDON - Output in the UK's construction sector fell for a fourth consecutive month, signalling further trouble for the already stricken sector, according to data released by the Office for National Statistics on Friday.
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The construction sector body, which represents large industrial companies such as Hochtief, said it now expects nominal sales growth of 6 percent this year, up from the 4 percent it had projected in January.
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"The breakdown suggests that an acceleration in service sector activity offset a slowdown in the construction sector, which has been hit by the cooling property market and a reduction in fiscal support," he said.
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Earlier, a survey showed Britain's construction sector grew last month at the weakest rate since August against a backdrop of rocketing costs linked to the Brexit vote, but this had little effect on sterling.
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Singapore's economy expanded slightly less than expected in the third quarter from the previous quarter on an annualized basis, with growth supported by an improvement in the construction sector, preliminary data showed on Friday.
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Demand from the construction sector is on the rise, while the automobile sector is getting support from the introduction of new cars in domestic markets as well as strong overseas demand, the group said.
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Zypries said that the booming construction sector, helped by a low interest rate environment created by the European Central Bank as well government investments in infrastructure, was providing a strong impulse for the economy.
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"People are looking at possible winners from this (but) in the short-term, it's a pretty grim day for the UK construction sector," said James Tetley, deputy head of research at N+1 Singer.
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The Gulf construction sector is in a marked slowdown after the slump in oil prices forced governments to rein in spending, compounding internal problems at Arabtec which has seen several board and management changes.
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However, the French building federation (FBB) has predicted slowing growth in the country's construction sector in 2018 because of curbs on government measures supporting the industry and due to property prices becoming more expensive.
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Data showing growth in Britain's construction sector hit a one-year low in August - hurt by an investment slump in the commercial sector as Brexit uncertainty weighed - had little measurable effect on the currency.
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Italy went into recession at the end of 2018 for the third time in a decade and the government is anxious to find ways to boost the economy and revive the stalled construction sector.
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"Overall, the industrial sector got off to a relatively good start in 2016 although seasonal factors led to shifts in production and the construction sector benefited from the mild winter," the Economy Ministry noted.
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Italy fell into recession at the end of 2018 for the third time in a decade and the government is eager to find ways to boost the economy and revive the stalled construction sector.
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"With low unemployment rates, favorable demographics and a tight supply of existing home inventory, we can expect continued upward movement of the single-family construction sector next year," said NAHB Chief Economist Robert Dietz.
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TORONTO, March 19 (Reuters) - Canada added 7,200 jobs in February, the eighth consecutive month of job gains, led by hiring in the construction sector, a report from payroll services provider ADP showed on Thursday.
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"With low unemployment rates, favorable demographics and a tight supply of existing-home inventory, we can expect continued upward movement of the single-family construction sector next year," said NAHB chief economist Robert Dietz.
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WASHINGTON, Oct 31 (Reuters) - The United States has imposed sanctions on Iran's construction sector and on trade in four materials used in its military or nuclear programs, the U.S. State Department said on Thursday.
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In a statement, both senators said the bill could help incentivize carbon capture technology among energy and industrial firms, a strategy they say would help both reduce carbon emissions and support the construction sector.
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SEOUL (Reuters) - South Korea's economic growth almost halved in the second quarter of 2017 from the previous three months, the central bank estimated on Thursday, as construction sector activity that had supported growth earlier slowed.
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Growth in Britain's construction sector fell to a three-month low in December, though businesses struck a more upbeat tone for the coming year despite Brexit uncertainty delaying commercial projects, a survey showed on Thursday.
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The central bank said the German economy was in good shape and should run even better in the future, as the construction sector is buoyant, many factories run at full capacity and companies invest more.
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Rohde said that initiatives that could increase demand in the construction sector would be especially damaging as that sector would be the first to experience labor shortages and thus increased wages that would hurt competitiveness.
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A recovery in tourism, boosted the number but other sectors, such as farming and the construction sector grew at a slower rate, the director general of the Kenya National Bureau of Statistics, Zachary Mwangi, said.
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While the commercial construction sector has been hurt by falling business investment ahead of Brexit, efforts to narrow a shortfall in the number of residential homes on the market has helped the house-building sector.
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It pledged to increase infrastructure spending, said it had settled unpaid bills to the private sector and promised to settle future bills within 60 days of receiving them - good news for the Saudi construction sector.
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BERLIN (Reuters) - Revenues in the German construction sector will likely grow by 6 percent in nominal terms to hit 128 billion euros ($145 billion) next year, the ZDB and HDB construction associations said on Monday.
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Vinci has been expanding into faster-growing and more profitable concessions such as airports and motorways, as well as engineering projects for the energy industry, in order to counter weakness elsewhere in the construction sector.
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"The result of the referendum has been accepted, and the (mood in the) construction sector has calmed down," Scheuch said, adding Wienerberger's UK business was stable in July compared with the same month last year.
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The Gulf construction sector has slumped since a collapse in oil prices four years ago forced governments to rein in spending, leading to a debt crunch at some companies that operate across the Middle East.
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Alior's strategic focus on unsecured retail lending, some concentration in higher-risk industries (such as wind farms and the construction sector) and only moderate coverage of impaired loans by loan loss reserves are rating weaknesses.
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Production, total new orders and output prices all improved to the highest level in at least a year, while a pick-up in a reading for the construction sector indicated a building boom is undiminished.
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When the Great Recession devastated the construction sector and put millions of Americans out of work, the American labor movement came together with the goal of raising $28500 billion to repair the nation's crumbling infrastructure.
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With exports hit by trade tensions and a global economic slowdown, the bulk of Germany's economy increasingly depends on its robust domestic spending driven by record-high employment and strong demand in the construction sector.
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"All of a sudden this is happening," said one real estate agent whose business had come to a standstill over the past year because the construction sector could not access dollars to import building materials.
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One of the worst hangovers from the crisis is up to $20 billion in debt that energy and construction sector companies can no longer afford to service that sits largely on Turkish banks' balance sheets.
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And snow and cold weather in many parts of the country clearly took a toll on the construction sector, which barely grew after gaining a total of more than 90,000 jobs in January and February.
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The report also showed that employment growth in Germany has lost momentum as a consequence of the economic slowdown, with the industrial sector cutting jobs, while service providers and the construction sector are still hiring.
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LIMA (Reuters) - Peru's economy is at "grave risk," of a systemic crisis within its construction sector, as companies under investigation for corruption could be forced to halt projects, Finance Minister Claudia Cooper said on Monday.
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The federal government has made billions of euros for social housing available, but the outflow of earmarked funds has been slowed down by planning bottlenecks at local authorities and capacity constraints in the construction sector.
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Wally Trenholm, the CEO of Sightline Innovation, a machine learning company focused on real-time quality inspection for the construction sector, started and grew Sightline in Toronto for several years before deciding to relocate to Winnipeg.
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One of the worst hangovers from the crisis is up to $20 billion in debt that energy and construction sector companies can no longer afford to service, and that sits largely on Turkish banks' balance sheets.
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Mark Farmer, author of a government-commissioned review into the construction sector labor market late last year, said the Brexit vote was forcing companies to look at offsite building techniques, to reduce dependence on traditional labor.
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The British pound dropped to $1.3222 on Tuesday, its lowest in almost three weeks after data showing a surprise contraction in the construction sector stoked worries about economic uncertainty surrounding Britain's exit from the European Union.
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The economy has been driven by rising state spending linked to the influx of a record number of migrants last year, higher private consumption and a flourishing construction sector - all supported by record low interest rates.
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Foreign workers flocked to the kingdom when oil prices were high and its economy boomed, but as the outlook has darkened since late last year, some companies - particularly in the construction sector - have begun cutting staff.
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Cuba selected Bouygues because of its track record in the construction sector in Cuba and Groupe ADP, previously known as Aeroports de Paris, for its experience operating major airports in France and elsewhere, the ministry said.
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"The downturn in the construction sector continued to ease in October, but it would be premature to conclude that the sector is back on a recovery path," said Samuel Tombs, chief UK economist at Pantheon Macroeconomics.
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Geberit has been benefiting from a booming construction sector in Germany, its largest market, which helped it increase sales to 761.2 million francs from 670.9 million francs in 2015, better than expectations of 720 million francs.
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Ralan Group called in administrators on Tuesday, a day before Australia's top cement maker, Adelaide Brighton, cut its annual profit guidance by as much as 30% due to weak conditions in the once-strong construction sector.
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While Indian authorities and mining officials deny the existence or the dangers of an illegal sand mining industry, a Thomson Reuters Foundation investigation found miners are dying to meet rising demand from a booming construction sector.
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Schaeuble has said he prefers to use the higher tax revenues made possible thanks to steady growth fueled by consumption, a robust labor market, a booming construction sector and higher state spending to reduce public debt.
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What has shown no sign of slowing is the pace of job growth in the construction sector, which is still running at near 2628 percent annually — more than three times the growth of overall nonfarm payrolls.
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However, analysts say Fletcher's importance to the country's construction sector and broader economy would likely warrant a relatively favourable approach from its creditors, adding they did not think the company was at any risk of insolvency.
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In a pre-release of a report due for publication on Saturday, Obstfeld also said additional stimulus in Germany's construction sector would push up wages, helping the European Central Bank reach its 2 percent inflation target.
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"As for the economy, looks like the construction sector will continue to drive growth albeit at a slower pace," Kim said, adding the broad economic recovery underway is unlikely to be dented by the housing restrictions.
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Iliad shares fell 5.5% after Bank of America Merrill Lynch cut the French telecoms company's price target, while Barratt Developments shares shed 3.6% after first half results as Brexit continues to weigh on Britain's construction sector.
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"If the PPP–C wins the election, it is likely to renegotiate contracts in the construction sector, targeting infrastructure projects being undertaken by companies perceived as close to the APNU–AFC coalition," IHS' Moya-Ocampos said.
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In the run-up to the 2008 crisis, the construction sector was worth around 12 percent of Spain's economic output, there was a sharp growth in lending and house prices were overvalued, Hernandez de Cos said.
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Tuesday marks the first anniversary of the Trump administration's "maximum pressure" campaign against Iran, which escalated further last week with new State Department findings that link the country's construction sector to its Islamic Revolutionary Guard Corps.
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Saudi International Petrochemical (Sipchem) dropped 1.8 percent but some banking shares, which have been under pressure over the last several weeks because of the slump in the construction sector, edged up with Samba Financial adding 0.6 percent.
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"Increasing activity in the construction sector is a very good way of creating jobs but ... at (a jobless rate of) 4.3 percent, our economy is approaching full employment, the output gap is extremely small," he told parliament.
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"Government payments have come through to contracting firms - I've seen them show up in the accounts," a third banker said, though he added that overall, the government still had considerable unpaid debts to the Saudi construction sector.
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"There is an overhang from the construction sector on Saudi banks, but we believe that the capital buffers in top-tier banks are sufficient," said Kunal Damle, institutional sales for brokerage at Bahrain's Securities & Investment Company (SICO).
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"Recent events highlight the dire need for a systematic and far-reaching overhaul of the construction sector in the Kingdom of Saudi Arabia as well as the regulations which govern these firms," MMG said in its statement.
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Lending activity to small Canadian businesses dipped in February, though borrowing by medium-sized firms rose for the fourth month in a row on strength in the construction sector and oil-related provinces, data showed on Thursday.
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The construction sector expanded 15.3 percent from a year ago although it shrank 4.1 percent from the previous quarter, indicating that while some projects may have been slowed by temporary shortages of materials, Qatar's building boom continues.
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"Retail trade would get affected," he said, adding that demand for FMCG would rise on humanitarian support for flood and landslide victims while the construction sector is also likely to see higher activities in the coming period.
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While Caterpillar's stock has slipped about 2 percent in 2018, the company is well positioned to benefit from a construction sector boom in China, Citigroup said in a note Monday, upgrading Caterpillar shares to buy from neutral.
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Merkel's credentials have also been enhanced by an economy that has grown every year since 2010, driven by a solid labor market, a booming construction sector, rebounding exports as well as increased state spending and private consumption.
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The results, coming after the profit jump at Qatar National Bank last week, mean three of Qatar's four largest banks by assets have now posted rising profits despite a slowing economy and challenges in the construction sector.
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December's drop in industrial output was led by the construction sector, where activity shrank by more than 4 percent, which could not be offset by a small rise in manufacturing output, a breakdown of the data showed.
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"The situation is somewhat different in Germany, where the rise in prices in recent years has been accompanied by a sharp rise in construction investment and bottlenecks are increasingly occurring in the construction sector," the Commerzbank note stated.
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The scandal has implicated dozens of former officials and business owners in the construction sector, shaking confidence in an industry already burdened by an ailing economy, government cuts to public works and crippling interest rates at 60 percent.
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The aim is to carry out "pre-emptive and powerful corporate restructuring" in advance to make sure companies with no hope of surviving don't derail the rest of construction sector in the long run, according to the ministry.
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But investors are cautious about how high aluminum prices can go, as the Chinese government is unlikely to give a strong stimulus to the construction sector, the top user of aluminum, to avoid a property bubble, Wang said.
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But investors are cautious about how high aluminium prices can go, as the Chinese government is unlikely to give a strong stimulus to the construction sector, the top user of aluminium, to avoid a property bubble, Wang said.
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And while building approvals have been fairly solid in recent months, residential construction will still slow in the years ahead, creating downside risks for employment in the broader construction sector despite encouraging signs on infrastructure and commercial investment.
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Undoing all that good work Not only was employment consistently rising, the UK and Europe's manufacturing sector expanding after a period of relative depression, but the UK's construction sector was starting to arrest a slide in its expansion.
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The construction sector earns more and more thanks to a growing economy and new contracts, but its debt rose to 2.2 billion zlotys this year from 1.49 billion zlotys in 2016, Gazeta Wyborcza daily said quoting industry data.
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AMSTERDAM (Reuters) - The longest drought in decades is drying out rivers in the usually wet Netherlands, hitting cargo traffic and threatening a shortage of bulk supplies ranging from hops for beer brewers to cement for the construction sector.
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Portugal has opened dozens of new hotels in the past year and private entrepreneurs have redeveloped hundreds of apartment buildings in old parts of Lisbon and other areas to rent to tourists, helping the country's flagging construction sector.
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The construction sector slipped 1.5 percent and was the worst performer on the board, after Tokyo prosecutors raided Japanese construction companies on suspicion of antitrust breaches related to $80 billion worth of magnetic levitation (maglev) train line projects.
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The construction sector slipped 1.7 percent and was the worst performer on the board, after Tokyo prosecutors raided Japanese construction companies on suspicion of antitrust breaches related to $80 billion worth of magnetic levitation (maglev) train line projects.
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Some banks could face tough decisions in the next two months over whether to sell or restructure the loans, which centre on Turkey's construction sector that for years enjoyed cheap foreign credit and drove the country's economic boom.
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But strict regulations combined with lack of capacity in the construction sector mean Lofven's plans will likely fall short, according to industry officials and analysts, while political deadlock may mean reforms to encourage building will be on hold.
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But having appeared unruffled by a survey showing growth in Britain's construction sector slowed last month, sterling weakened during the day as the dollar climbed broadly, at once point dipping below $1.35, down 0.7 percent on the day.
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Sterling's fall since the Brexit vote has kept manufacturing activity near 2-1/1.53 years highs since the turn of the year, but recent surveys have suggested higher input prices are hitting new orders in the construction sector.
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Saudi petrochemical shares may continue to outperform on Tuesday in response to firm oil prices, while banking shares have been underperforming partly because of concern about financial weakness and the potential for bad debts in the construction sector.
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"The combination of weaker order books and sharply rising construction costs provides a concern that an extended soft patch for the construction sector may be on the horizon," said Tim Moore, senior economist at survey compiler IHS Markit.
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Salini said on Thursday that its non-binding offer, which was presented to Astaldi and to court-appointed commissioners, was for activities connected to the construction sector and it was analysing a possible industrial integration with its rival.
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The most dynamic component of the economy is expected to be investment, estimated to increase 7.2% in 2019, up from 5.8% in 2018, supported in particular by the construction sector, with several large-scale infrastructure projects under way.
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Santhosh Balakrishnan, manager and research analyst at Riyad Capital, said the 2017 budget numbers looked "decent" for the stock market, and the government's plans to boost capital spending and pay overdue bills were positive for the construction sector.
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VEB also refinanced GB's high-risk RUB7 billion loan exposure to the real estate and construction sector in 2016 and plans to refinance a further RUB4 billion by mid-2017, which will reduce the volume of restructured loans.
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BEIRUT (Thomson Reuters Foundation) - Jordan on Wednesday became the first Arab country to issue Syrian refugees with a new type of work permit that opens up the growing construction sector, the United Nations labor agency said on Wednesday.
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The average time to receive payment for companies in the metals and construction sector stood at 335 days in 2016, 143 days in the information technology and electronics sector and 90 days in the petrochemical sector, the data showed.
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"The decision will have a huge positive impact on the Saudi economy and especially the manpower intensive construction sector, which was the worst hit by the collective invoice," Osama al-Afaliq, head of the Saudi Contractors Association, told Reuters.
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At the same time, the Federal Reserve has hiked interest rates three times this year and is expected to raise again in December, sparking fears in the housing and construction sector that rising mortgage rates will choke off demand.
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"The German economy is a kind of split economy — you have the export sector, the manufacturing sector, which is in a kind of recession, and you have the domestic economy, especially the construction sector, which is booming," Kraemer explained.
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CBB said China's record credit expansion this year is filtering through to the construction sector, where 43 percent of residential builders reported higher revenue growth in the second quarter, up from 33 percent for the same period last year.
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LONDON, Jan 3 (Reuters) - - Growth in Britain's construction sector fell to a three-month low in December, though businesses struck a more upbeat tone for the coming year despite Brexit uncertainty delaying commercial projects, a survey showed on Thursday.
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DUBAI, April 19 (Reuters) - Saudi Arabian contractor Abdullah Abdul Mohsin al-Khodari and Sons reported a 70.6 percent drop in first-quarter net profit on Tuesday as it continued to struggle amid a slowdown in the kingdom's construction sector.
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Germany's booming construction sector, which was one of the drivers of a rebound in economic growth in the first quarter, has reached capacity constraints in many regions as companies are struggling with a severe lack of builders and craftsmen.
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The demand for labor in the construction sector will likely cushion any negative impact on wages from an influx of migrant workers, according to economists, although accommodating extra workers could squeeze housing availability unless extensive temporary accommodation is built.
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WARSAW, Nov 22 (Reuters) - Poland's construction sector unexpectedly shrank in October, data published by the statistics office showed on Friday, raising concerns over the ability of Central Europe's biggest economy to sustain its resilience to a global economic slowdown.
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NEW DELHI, Aug 31 (Reuters) - The Indian cabinet has eased rules for quicker settlement of disputes in the construction sector, Finance Minister Arun Jaitley said on Wednesday, to pump liquidity and activate some of the stranded real estate and infrastructure projects.
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The figures highlight the resurgence of exports as a driver of growth in an economy that has been relying mainly on private consumption and state spending for a growth cycle also supported by a booming construction sector and low interest rates.
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Wages in the construction sector rose 2.8 percent in the second quarter yr/yr, compared to 1.6 percent on average in the 13 countries Denmark does most of its trade with, according to figures from the Confederation of Danish Employers (DA).
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BUENOS AIRES (Reuters) - Argentina could shed some 21,210 jobs in its construction sector in coming months as high interest rates hurt financing and the government scales back projects to cut its budget deficit, according to industry executives and union leaders.
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BEIJING (Reuters) - China's daily steel output rose in January and February as mills in the world's top producer raced to take advantage of high prices, even as worries mount about a growing surplus and slowing demand from the construction sector.
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Despite a weakening Asian steel market amid the U.S.-Sino trade war, Japanese steelmakers are seeing solid local demand from automakers and the construction sector, which has been driven by higher public spending on infrastructure to guard against big disasters.
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Brexit, Italian political risks and a shortage of fitters in Germany were all cited by the group as downward factors by the Swiss company whose results are often seen as an indicator for the health of the broader construction sector.
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Sales growth slowed in the second quarter and was below analyst expectations but the company maintained its full-year guidance, saying the construction sector was showing resilience in the face of trade wars and a slowdown in the global economy.
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The country's central bank on Thursday kept interest rates at record lows of 1.75 percent, and hinted at a lower growth outlook due to headwinds in the construction sector, against the backdrop of political uncertainty from an inconclusive national election.
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"Prices for most construction and steel-making raw materials continued to grow in the last three months — despite expectations of decline — because of unexpectedly resilient demand from China's construction sector and unforeseen supply disruptions, " wrote the department's chief economist, Mark Cully.
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LONDON (Reuters) - Sterling extended losses on Friday and fell to the day's lows after a U.S. report showing wages rose at their fastest clip since 2009 hit the currency which was already struggling thanks to weak data from Britain's construction sector.
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This is largely because of the view that keeping China's stimulus spending going is becoming more of a challenge for the authorities in Beijing, especially given concerns over credit quality and a slowdown in the key residential property construction sector.
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The pullback, in a construction sector that employs nearly a tenth of the national workforce, is weighing on the faltering economy just as the central bank puts unemployment and underemployment at the top of its list of hard-to-fix problems.
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Gulf nations have traditionally kept steel tariffs low to facilitate local building booms, although the construction sector - in particular in Saudi Arabia - has struggled since oil prices began to fall in mid-2014, which crimped state budgets for large infrastructure projects.
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New easing measures directed at the construction sector in China were also announced this week, with reduction of the down payment for first-time buyers from 25 percent to 20 percent (in cities without purchase restrictions such as Beijing and Shanghai).
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Osama bin Fadl Al-Bar said the pilgrimage-related projects were a top state priority and would be finished on time, despite widespread delays in the Saudi construction sector as the kingdom grapples with the effects of sustained low oil prices.
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The steps, which mark a return to Beijing's traditional playbook for boosting the economy, are good news for steelmakers in the world's top producer of the material, who have been grappling with a slowing construction sector and weakening auto sales.
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BRUSSELS (Reuters) - Euro zone economic sentiment fell by more than expected to a two-year low in January as all components except consumers and the construction sector became more pessimistic about the bloc's prospects at the start of the year.
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OTTAWA, April 20 (Reuters) - Lending activity to small Canadian businesses dipped in February, though borrowing by medium-sized firms rose for the fourth month in a row on strength in the construction sector and oil-related provinces, data showed on Thursday.
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"A successful guest worker program will help alleviate the current labor shortage in the residential construction sector, quicken the rebuilding efforts in Texas and support the overall economic growth of this nation," wrote NAHB Chairman Granger MacDonald in a September statement.
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SEOUL (Reuters) - South Korea's gross domestic product growth almost halved to 0.6 percent in the second quarter of 2017 from the previous three months, the central bank estimated on Thursday, as construction sector activity that had supported growth earlier slowed.
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ANKARA, Aug 6 (Reuters) - Turkey's finance minister said on Tuesday a loan rate discount from three public banks has lead to a record high demand for mortgage loans over the past two days, giving the construction sector an "anticipated" boost.
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"Abertis shareholders would be directly exposed to the less predictable construction sector and, strangely, would even be financing the offer as Hochtief would issue new shares potentially to be underwritten by Abertis' shareholders themselves," the broker said in a note.
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"Domestic political uncertainty continued to hold back the UK construction sector in August, with survey respondents indicating that delays to spending decisions had contributed to the sharpest fall in new work for over 10 years," IHS Markit economist Tim Moore said.
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"A successful guest worker program will help alleviate the current labor shortage in the residential construction sector, quicken the rebuilding efforts in Texas and support the overall economic growth of this nation," said NAHB Chairman Granger MacDonald in a press release.
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Monday's data showed that Britain's dominant services sector grew by 0.6 percent in the three months to July, its biggest rise since January 2017, while 3.3 percent growth in the much smaller construction sector was the fastest since February 2017.
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"Labour shortages continue to place upward pressure on build costs throughout the construction sector, however, a strong operational focus and an embedded culture of cost control has helped Bellway minimise any dilutive effect on the gross margin," the firm said.
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"Prices for most construction and steel making raw materials continued to grow in the last three months, despite expectations of decline, because of unexpectedly resilient demand from China's construction sector and unforeseen supply disruptions," Mark Cully, the Department's chief economist, said.
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China's steel production hit a record 82.55 million tonnes in October, but steel prices and margins have since shrunk as China dialed back on winter output curbs aimed at cutting smog, while demand weakened as cold weather slows the construction sector.
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In the construction sector, LafargeHolcim rose 2.4 percent after the building materials giant cut its mid-term profit outlook but sweetened the pill by saying it planned an improved payout for shareholders as well as 1 billion Swiss francs worth of share buybacks.
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"The recent misfortunes of the construction sector continue to weigh on banks and investors are concerned we could see an increase in banks cost of risk over the coming quarters," said Mohamed Eljamal, director of capital markets at Abu Dhabi's Waha Capital.
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LONDON (Reuters) - Sterling extended losses for a second consecutive day on Tuesday after a survey of Britain's construction sector showed growth cooling in June, adding to signs that the economy might be struggling to gain momentum after a slow start to the year.
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"The Hungarian construction sector will not be able to improve its efficiency at a pace that could keep up with an expected increase in demand in the next two years," Laszlo Koji, chairman of the Federation of Hungarian Building Contractors (EVOSZ), told Reuters.
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BUENOS AIRES, Sept 21 (Reuters) - Argentina could shed some 210,000 jobs in its construction sector in coming months as high interest rates hurt financing and the government scales back projects to cut its budget deficit, according to industry executives and union leaders.
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LONDON, Sept 2 (Reuters) - Sterling and Britain's blue chip stock index rose to a day's high on Friday after a survey showed the downturn in the construction sector was easing, boosting expectations that the economy is holding up well after the Brexit vote.
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Construction-sector job growth is one of the most significant, if not always recognized, economic benefits of the American energy resurgence — including opportunities to provide career training to historically neglected communities via the building trade's world-class apprenticeship education and training infrastructure.
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Imports of unwrought copper - mainly used in the construction sector - fell from December but were still up 15.8 percent on a year ago, while imports of steelmaking raw material iron ore hit their second highest level of record at 100 million tonnes.
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The flow of new orders improved for the seventh month in a row to also reach a six-year high, with some firms reporting improved demand from the construction sector, which is in the early stages of a recovery after a slump.
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Banks have been hit in recent weeks by concern the slumping construction sector could saddle them with bad debt, and by authorities' decision to have them reschedule consumer loans to customers whose incomes have been hit by cuts to public sector allowances.
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Almost 10,000 migrants worked in the construction sector as of June, up from 6,000 five years ago according to the Ministry of Business, Innovation and Employment, though this was likely to be an undercount as it excluded migrants living in temporary accommodation.
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Private entrepreneurs have also redeveloped hundreds of apartment buildings in old parts of Lisbon and other areas of Portugal to rent to tourists, helping the country's flagging construction sector, which this year finally expects to see a turnaround after a 15-year slump.
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LONDON (Reuters) - Sterling held close to 3-1/2 month lows on Wednesday after Brexit-related news knocked the pound and as traders readied for data on the construction sector for any sign of an April rebound after weakness in the first quarter.
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The tens of thousands of men employed in the construction sector, for example, can have up to 18-hour workdays, boarding a bus to their work site as early as 5 am and getting shuttled back to their labor camps just before midnight.
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Among the factors pushing up residential property prices are the European Central Bank's ultra-low interest rates, capacity constraints and bottlenecks in the construction sector as well as an influx of people to cities, a spokeswoman for the Federal Statistics Office said.
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By forcing banks to keep lending rates low, increasing government spending and encouraging companies, especially in the construction sector, to rack up billions of dollars in debt, Mr Erdogan has allowed inflation to get close to 16% and exposed the economy to external shocks.
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Its plan to restart construction at the Grand Mosque is a fresh sign of the rehabilitation of Saudi Binladin, which was temporarily banned from winning new state contracts after the crane collapse and has been damaged financially by a deep slump in the construction sector.
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The company goes after "brick and mortar SMEs, such as guard supply or service companies that do not have collateral… or companies in the construction sector where cash flow becomes a problem as they grow," Validus co-founder and executive chairman Vikas Nahata told TechCrunch.
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Indeed, rather than nationwide measures, the government is trying a targeted approach aimed at cities with the most heated property prices to reduce the impact on the construction sector, which grew almost five times faster than the gross domestic product in the first quarter.
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When we won the World Cup, we developed a charter, we assessed the market conditions, we looked at the gaps and the issues, we consulted with NGOs and the construction sector, to understand the challenges from their side, and we developed a set of standards.
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QUITO, Jan 14 (Reuters) - Ecuador is planning to sell a bond worth $400 million to fund the country's social housing project, a source familiar with the matter said on Tuesday, as the government attempts to revive its economy with investments in the construction sector.
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The idea of creating a national champion in the construction sector could require fresh capital of around 600 million euros, Salini CEO said in an interview with Corriere della Sera replying to a question saying half of that amount could come from state lender CDP.
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"The construction sector has a significant number of people working informally - without the necessary paperwork - which didn't give them the proper protection for payment and possible employer abuse," said Elias Jourdi, a shelter specialist for the Norwegian Refugee Council (NRC), an international aid agency.
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"This is because continued Chinese fiscal support to the construction sector has buoyed domestic industrial metal demand, especially through public-private partnerships in public infrastructure such as airports, water, rail, power and roads and bridges (that will) continue at least until the end of 2017, " BMI added.
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Banks have been hit in recent weeks by concern that the slumping construction sector could saddle them with bad debt, and by the central bank's decision to have them reschedule consumer loans to customers whose incomes have been hit by the government's cuts to public sector allowances.
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Saudi stocks lost 2118.97 percent, extending Sunday's 2119.28 percent loss caused by a selloff in bank shares on concerns the troubled construction sector could saddle banks with bad debts But Polish stocks bounced 211.64 percent, after German exports posted their biggest rise in more than six years.
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The construction sector slipped 0.7 percent and was the second worst sectoral performer, with Taisei Corp sliding 2.7 percent after the Nikkei business daily reported that the construction firm had asked rival Obayashi Corp to refrain from bidding on a project for magnetic levitation (maglev) trains.
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Analysts assessing the sector agree that output both inside and outside of China is showing signs of slowing and recent easing in Chinese policy further aimed at boosting the ailing construction sector in the country means 210 could be the start of a turnaround for the industry.
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While Ireland was left with a surplus of houses after values were cut in half following the bursting of a property bubble in 2007, a recovery in its construction sector has lagged behind a rapid economic turnaround and led to supply falling far short of demand.
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Saudi banks with large exposure to the construction sector may have further upside after Reuters reported on Sunday afternoon, citing banking sources, that major builder Saudi Binladin Group had received hundreds of millions of dollars from the government to settle debts since the start of this year.
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In the end, this may be the deciding factor: The top military leaders, who are heavily involved in the country's construction sector and implicated in rampant corruption and gross human rights abuses, have much at stake and may opt to resist change and maintain the current system.
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The downbeat reading of China's services sector, which accounts for more than half of the top metal consumer's economy, highlighted corporate concerns over subdued economic conditions The services report came on top of data last week that showed activity in the construction sector had pulled back.
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In Saudi Arabia, the banking sector has been hit hard over the last several weeks and may continue to underperform as investors acutely assess the negative impact on lenders' bottom line from a bruised construction sector and a population hindered by futher austerity expected in the coming months.
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The comments came after China released output data on Monday showing producers churned out a record 74.02 million tonnes of cured steel last month - even though July is seen as a low season month as high summer temperatures slow down the construction sector and its demand for steel goods.
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The construction sector slipped 1.0 percent and was the worst sectoral performer again, with Taisei Corp diving more than 4 percent after the Nikkei business daily reported that the construction firm had asked rival Obayashi Corp to refrain from bidding on a project for magnetic levitation (maglev) trains.
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Growth in China's manufacturing sector cooled slightly in July, as foreign demand for Chinese goods slackened, but a government-led drive to develop infrastructure boosted growth in the construction sector.. The data, combined with an environmental crackdown in China, sent Chinese steel prices to their highest since December 2013.
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"Bullish factors to look forward to in regards to Indian gasoil (include) solid economic growth with special emphasis towards rural development, improving industrial/freight activities, an uptick in the construction sector and not the least, the upcoming elections," said Sri Paravaikkarasu, head of East of Suez oil at consultancy FGE.
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"There has been a recent change in sentiment from the credit markets towards the UK construction sector, with various lenders indicating that they will be reducing their exposure," Kier said in a statement just two weeks after it issued a trading update saying it expected to meet full-year expectations.
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"The main concern is not the corruption issue per se but rather the risk that the scandal will further slow the rate of growth of the construction sector, one of the few sectors that has proven resilient during Argentina's economic slow-down," said Julio Burdman, a Buenos Aires-based pollster.
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However, a rebound in activity in the construction sector, driven by aggressive public infrastructure investments will offset the effects of a "weak external sector" and return growth to above 6 percent in the 2017/2018 July to June fiscal year, the bank said in an emailed response to Reuters questions.
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On the other hand, the construction sector slipped 0.4 percent and was the worst performer on the board after news Tokyo prosecutors had raided the headquarters of at least two of Japan's biggest construction firms for alleged antitrust violations linked to $80 billion worth of magnetic levitation (maglev) train line projects.
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"With the economy growing at the slowest annual growth rate in a decade and jobs being lost in the construction sector...it appears that additional policy stimulus will be required," said Ryan Felsman, a senior economist at the Commonwealth Bank of Australia, which now expects a rate cut next month.
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"Prices for most construction and steel making raw materials continued to grow in the last three months, despite expectations of decline, because of unexpectedly resilient demand from China's construction sector and unforeseen supply disruptions," Mark Cully, chief economist of the Department of Industry, Innovation and Science said in a statement.
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"With the economy growing at the slowest annual growth rate in a decade and jobs being lost in the construction sector...it appears that additional policy stimulus will be required," said Ryan Felsman, a senior economist at the Commonwealth Bank of Australia, which now expects a rate cut next month.
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So reform of the construction sector the building and construction Commission legislation the big omnibus tax, omnibus savings bill we've been introduced our tax cuts measure for middle income earners and a whole range of over 20 new pieces of legislation some of them brought back that had lapsed in the last Parliament.
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A Brexit from the European Union would deliver a blow to the U.K.'s already struggling construction sector, cause building costs to spike, exacerbate the industry's skills shortage and slow down the delivery of affordable housing, Niccoló Barattieri di San Pietro, chief executive of London-listed luxury property developer Northacre, told CNBC.
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A recent report from the Federal Reserve Bank of St. Louis found that the construction sector accounted for a little over a third of the decline in output in the past recession, and about half of the job losses (a figure that includes laid-off construction workers and job losses in connected industries).
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A boom in the construction sector had sustained the growth in wages but that has since slowed down dramatically, dragged by Modi's November 2016 move to suck high value currency notes out of the system to combat corruption and then a sweeping goods and services tax (GST) that businesses are struggling to adapt to.
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Modular construction – or the off-site building of house parts before the components are combined upon the housing's foundation – has been touted as hugely promising for its ability to speed up rates of construction, release pressure from the overburdened construction sector and standardize components manufacture for regulatory and safety purposes while allowing tailored end products.
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Although the results were more negative than in the months running up to the referendum, they did show an overall uptick from responses collected in the immediate wake of the vote, suggesting U.K. data in recent months showing a surprisingly resilient domestic consumer and a recovering construction sector had helped a partial recovery of sentiment.
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"While earnings in the UAE haven't been particularly inspiring among smaller-cap equities in the construction sector, larger-cap banks and real estate earnings helped provide some stability as investors await appetising dividends that are typically paid in the next few months," said Nadim Kabbara, head of research at Beirut-based FFA Private Bank.
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"While earnings in the UAE haven't been particularly inspiring, mainly among smaller-cap equities in the construction sector, larger-cap banks and real estate earnings helped provide some stability as investors await appetising dividends that are typically paid in the next few months," said Nadim Kabbara, head of research at Beirut-based FFA Private Bank.
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The Bank's decision is expected to be announced during BoE Governor Mark Carney's address at 33 GMT and it will be preceded by the results of a monthly survey of the British construction sector, expected at 23 GMT, which could give some indication of the economic mood and the likelihood of a longer-term tightening cycle.
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It's an impressive mix, as it underscores Super's traction and credibility among those close to its field: Munich Re Ventures and Liberty Mutual are insurance powerhouse, Aquiline and Moderne focus on insurance and real estate startups, QIA has extensive investments in the construction sector and Solon Mack is the family office of the Mack real estate entrepreneurs.
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"While only the construction sector was exhibiting signs of pre-referendum jitters, more widespread signs of weaker demand expectations and flagging confidence means that this is likely to be as good as it gets for the U.K. economy —certainly for the rest of this year," Lee Hopley, chief economist at EEF, a lobbying group for U.K. manufacturing, said in a statement on Wednesday.
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Earlier, it was knocked by data that showed Britain's construction sector PMI survey suffered its worst contraction in seven years in the run up to the EU vote, which added to expectations, stoked by Governor Mark Carney last week, that the Bank of England (BoE) will have to cut interest rates in the months ahead to counter the economic fallout of the vote.
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Sterling's bounce off its earlier lows accelerated after Danuta Hubner, who chairs the European Parliament's constitutional affairs committee, told Reuters: "We are open to introducing some changes to the backstop solution so that it is politically acceptable for the UK." A survey showing weaker than expected growth in Britain's construction sector in August - another sign of the economy wilting in 2018 - piled further pressure on sterling.
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Indicated 26.6 percent lower The executive board of German machine tool maker DMG Mori AG agreed on Friday to compensation of 21200 euros ($20.3) per share for its remaining, roughly 20.1 percent minority shareholders, paving the way for full ownership by Japanese DMG Mori Co. Up 0.13 pct in early Frankfurt trade The software company agreed a cooperation with Wipro Ltd to provide software and services to the construction sector.
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About three-quarters of Saudi's listed companies have so far reported, with generally lower earnings and a few companies missing analysts' estimates by a wide margin "There has been a string of positive events that have helped revive optimism towards Saudi shares, namely because of the successful bond sale, payment by government to construction sector and relatively supportive oil prices," said Kunal Damle, head of brokerage institutional sales at SICO Bahrain.
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