Germany’s Construction Industry Booming
Germany’s construction industry is enjoying its biggest boom in almost a quarter of a century. According to the Federal Statistical Office (Destatis), the German construction industry saw incoming orders in 2018 take a year-on-year jump of 10.1 percent to EUR 79.5 billion. The last time the business was bigger was in 1994, when a tremendous push to build residential structures after German reunification lifted this figure to EUR 80.8 billion.
Turnover was also up by 11.3 percent in 2018, reaching a record high of EUR 127 billion, according to the German construction industry HDB, which also expects sales in construction to grow by an additional 6 percent in 2019. A survey conducted by the German Chambers of Industry and Commerce (DIHK) supports this optimistic outlook. Over three-quarters (76 percent) of the companies surveyed said that they expect business to remain high in the current year.
Construction workers © Getty Images/Caiaimage/Trevor Adeline