A collapse in home building across Europe, particularly in Germany and the UK, is leading to housing shortages and intensifying social tensions. German residential construction sector has been hit by a wave of cancellations in October, with a record number of firms reporting abandoned projects. The German service sector also contracted in October due to weak demand. In the UK, construction companies are reporting the sharpest drop in the cost of building materials in 14 years, indicating a more sluggish economy. The Eurozone economy started Q4 on a back foot, stoking recession fears.
Bank of England Chief Economist Huw Pill said UK inflation will soon fall in line with the lower rates seen in the rest of the world, reflecting a drop in energy bills. https://t.co/rFUz97J9qL
Bank of England Chief Economist Huw Pill said UK inflation will soon fall in line with the lower rates seen in the rest of the world, reflecting a drop in energy bills. https://t.co/wUM8SKM9Hw
Bank of England Chief Economist Huw Pill said UK inflation will soon fall in line with the lower rates seen in the rest of the world, reflecting a drop in energy bills. https://t.co/tIfsmzS44O
Germany’s home-building crisis is intensifying as builders say they’re suffering from record cancellations and a lack of orders https://t.co/wD0hFfxYI0
Steep falls in housebuilding drive contraction in UK construction https://t.co/uxXIcLDUpQ
Eurozone Composite #PMI pointed to the sharpest decline in private sector activity for nearly 3 years in October (46.5; Sep: 47.2), leading firms to cut staff for the first time since early-2021. https://t.co/y2TxCwpeAH
Wave of cancellations in German housing construction at new high - Ifo https://t.co/dYdLNIvPVh
German service sector activity contracts in October - PMI https://t.co/1qvRSGMhkG
Euro zone recession fears harden - Reuters https://t.co/GQ92ZoaTng
German housing construction sees surge in project cancellations, orders continue to decline https://t.co/l0qFQEDuyD https://t.co/b9MG9FqXXL
The European composite PMI output index pointed to the sharpest decline in nearly three years October's data also showed firms in the region cutting staff on a net basis for the first time since early 2021 The region is quite likely to go into a recession https://t.co/ZOUk3Tsd3Y
UK construction companies report the sharpest drop in the cost of building materials in 14 years, adding to signs that a more sluggish economy is starting to ease inflationary pressures https://t.co/1mJVXHUwmo
UK construction sector shrinks again as house-building slumps - PMI https://t.co/jChn91Wv39 https://t.co/JCklVcv1Qb
UK construction companies report the sharpest drop in the cost of building materials in 14 years, adding to signs that a more sluggish economy is starting to ease inflationary pressures https://t.co/RRpoELBWo3
UK construction companies report the sharpest drop in the cost of building materials in 14 years, adding to signs that a more sluggish economy is starting to ease inflationary pressures https://t.co/Yojvx0Dn4P
Wave of cancellations in German housing construction at new high -Ifo https://t.co/tvdwQJHEil
German service sector activity contracts in October - PMI https://t.co/WsfCBqsayF https://t.co/sCee45q1ZF
Euro zone economy started Q4 on back foot, stoking recession fears -PMI https://t.co/kOvhJJcBy8 https://t.co/yC35BNCjHR
🇩🇪 GERMAN SERVICE SECTOR ACTIVITY CONTRACTS IN OCTOBER - PMI The German service sector slipped back into contraction in October amid persistent weakness in demand, a survey showed on Monday. The HCOB final services Purchasing Managers' Index (PMI) fell to 48.2 in October from… https://t.co/ygMVi2KjZg https://t.co/Fzdcm61xEH
Germany’s home-building crisis is intensifying as builders say they’re suffering from record cancellations and a lack of orders https://t.co/ziJgXM1yEX
Wave of cancellations in German housing construction at new high -Ifo https://t.co/PvcgjAp4mR https://t.co/6BYjZuMx1j
⚠️ WAVE OF CANCELLATIONS IN GERMAN HOUSING CONSTRUCTION AT NEW HIGH -IFO Germany's residential construction sector was again hit by a wave of cancellations in October, according to a survey published on Monday that showed a record number of firms reporting abandoned projects.… https://t.co/8gh9w5JLvY https://t.co/GoRSFc3JCf
A collapse in European home building threatens to intensify shortages for years to come https://t.co/HyMHNMbTdT
A collapse in home building across Europe risks intensifying housing shortages and stoking social tensions https://t.co/XXWwMFCp6g