Minus 15.6 percent – ​​the construction industry is losing orders at record speed

Construction site in Stuttgart

Many construction projects are stopped in view of the gloomy economic prospects.

(Photo: dpa)

Dusseldorf It is another warning sign for the German construction industry and the real estate market: German construction companies are losing orders due to rising material costs and higher interest rates. New business in the main construction trades fell by 6.0 percent in August compared to the previous month, as reported by the Federal Statistical Office (Destatis) on Tuesday.

Compared to the same month last year, there was even a minus of 15.6 percent after adjustment for inflation – this is the fifth consecutive decline and at the same time the strongest since the beginning of this time series in 2015. Due to higher construction prices, the order intake was not adjusted for price with a volume of 7, 9 billion euros, still 0.8 percent above the level of the same month last year.

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