Sixth successive monthly rise for German construction
The German construction industry association Deutschen Bauindustrie has reported robust growth for the industry in April.
Orders in construction were up a nominal 10.3% compared to the same month last year, representing a 7.3% in real terms. It was the sixth time in succession when the figures have been in the black.
For the period from January to April, the the increase was of 12%, or 9.0% in real terms.
Contractors are thus well positioned for the coming months, said the association. The orders correspond just under three months’ production. The period had been 2.5 months at the start of the year.
Residential construction continues to benefit from the uncertainty in financial markets, according to the survey. Investors, supported by low interest rates, are investing in property. In particular, multi-family housing has benefited from the increased demand: the number of approvals of new dwellings in the first four months of the year increased by 5.8%.
The commercial market was also positive with new orders up 8.9% and building trade sales rising 1.1% in in April.
The situation was more ambiguous in the public buildings sector. Orders rose for the sixth month in a row but there was a decline in sales.
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This article was published on 26/06/2012 (last updated on 26/06/2012).