German construction sector

Growth forecast +8.5%

Article by Philipp Matzku, translated by Susanne Höfler | 18.06.2019 - 10:30

Despite weakening economic developments, the Central Federation of the German Construction Industry increased its growth forecast for the current year from 6% to 8.5%.

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In the Q1, incoming orders were 8.6% (€53 bn.) higher than in the previous year. With 60% of all investments, housing construction is the sector's main motor according to information provided by the federation.

Federation president Peter Hübner expresses confidence that the political objective of 375,000 homes per year can be fulfilled in the long run. In 2018, the target was clearly missed with a total of 287,000 built homes; this year, the federation expects 300,000 units.

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