New orders in the construction industry in January were 7.4 percent lower than in December. Sales also fell significantly: in real terms they fell by 5.3 percent compared to January 2023.
The Main Association of the German Construction Industry spoke of a “weak start to the year’ The federal government's former goal of completing 400,000 new apartments every year is becoming increasingly distant for the trade union-affiliated Institute for Macroeconomics and Economic Research (IMK) Sharply increased interest rates, with which the European Central Bank wants to combat high inflation, are particularly causing problems for housing construction.