economic situation
Construction industry again with an increase in orders
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From an annual perspective, the balance sheet is murkier. But falling interest rates give companies hope: This could stimulate demand for construction services.
The weakening construction industry in Germany can look forward to more new orders for the second month in a row. In November 2024, the construction industry recorded a real increase compared to both October (plus 7.9 percent) and the same month of the previous year (plus 16.6 percent).
In addition, according to the Federal Statistical Office, November was the month with the highest sales of last year at 11.5 billion euros – even if revenues were still below the level of 2023.
Hardly any growth impulses from the construction sector
From an annual perspective, however, the balance is murkier: in the first eleven months of 2024, calendar-adjusted incoming orders fell by 0.6 percent compared to the same period last year, adjusted for price increases (in real terms). Real sales were 1.1 percent lower than in the first eleven months of 2023.
In its latest monthly report, the Bundesbank assumes that the ongoing economic slump in Germany is also due to the fact that the construction sector provided hardly any growth impulses at the end of the year.
However, falling interest rates give the industry hope: if real estate loans become cheaper, this will boost demand. The main construction industry includes the construction of buildings (structural engineering) as well as roads, railway lines and lines (civil engineering).
Federal Statistical Office: Main construction industry 11/2024
dpa
Source: Stern