The construction industry in eastern Germany is continuing its downward trend. The total volume of orders in the main construction industry fell by 4.1 percent to 14.6 billion euros in the first nine months compared to the same period last year, according to the Construction Industry Association East in Potsdam on Friday. A trend reversal is not in sight, said Managing Director Robert Momberg.
The biggest drop was in residential construction. Here, the order volume fell by 29.2 percent to just under 2.2 billion euros. In public construction, incoming orders amounted to 5.5 billion euros, falling short of the previous year's result by 2.7 percent.
Prices also had a negative impact on the industry. "Taking into account the significant increase in construction prices compared to the previous year, the value of orders in the eastern German construction industry as at September 2023 was down 16% in real terms compared to 2022," emphasized Momberg.
The association represents the interests of 260 construction companies with around 20,000 employees in Berlin, Brandenburg, Saxony and Saxony-Anhalt.
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