Fewer orders for construction
On the one hand low interest rates and the heavy demand in urban areas are driving residential construction in Germany. On the other hand companies and the state are holding back on building investments.
Under the line the German construction industry remains on a moderate growth course, as reported by the German Federal Bureau of Statistics.
Last year adjusted for prices the industry received 1.8% fewer orders than in the boom year of 2013. On the other hand, turnover and employment rose substantially, with the number of employees in businesses with at least 20 on the payroll increasing by 4,400 to 407,000. They worked 4.6% hours more and generated a turnover of EUR 65.9 bn (+4.3%).
For 2015 the German construction industry is moderately confident and expects a turnover increase of 2.0%.