- Decrease in construction activity in the northern region
Businesses in Schleswig-Holstein's construction sector have taken a hit in the first half of the year, with substantial order and revenue drops reported. According to the North's Statistics Office, a total of approximately 1.5 billion euros was generated during this period, representing a decrease of 8.8% compared to the previous year. After accounting for inflation, this decline increases to 9.9%.
Residential construction experienced the most significant drop, with revenues decreasing by 18.6% compared to the same period last year. The data was based on 393 construction companies in Schleswig-Holstein with more than 20 employees.
Unfortunately, the trend in new construction orders was also discouraging. The value of orders received decreased by 4.9% to 1.35 billion euros, with an inflation-adjusted decline of 6.1%.
The primary cause of these declines was the economic construction sector, where the value of orders received slid by 17.7% to reach 439 million euros. On a positive note, road construction exhibited an increase of 14%, reaching 242 million euros, and residential construction experienced a minor growth of 0.3%.
The construction sector in Schleswig-Holstein has been heavily impacted, with the value of orders in the economic construction sector decreasing significantly by 17.7%. Overall, businesses in this sector have seen a decline in revenue, with residential construction being the most affected, experiencing a drop of 18.6%.
