Fewer orders in the construction industry in September than in the previous month
Companies in the German construction industry received fewer orders in September than in the previous month. Adjusted for price effects, the value of orders fell by 7.3 percent compared to August, as reported by the Federal Statistical Office.
While building construction recorded an increase of 7.9 percent, civil engineering saw a decline of 18.8 percent. However, incoming orders in civil engineering were particularly high in August due to a number of large orders.
Compared to September 2022, the value of orders in the main construction sector rose by 13.2% on a price-adjusted basis. Including price increases (nominal), orders rose by 14.9% within one year.
Due to weak demand at the beginning of the year, incoming orders in the first nine months were 5.6% lower in real terms than in the same period of the previous year. Companies' price-adjusted turnover fell by 3.6% in this period. However, higher prices led to nominal sales growth of 4.9%.
The economic situation in the building trade significantly impacted the construction industry, leading to fewer orders in September compared to August. Despite this, the overall construction sector experienced a 13.2% increase in orders compared to September 2022, suggesting some resilience in the building construction and civil engineering sectors.
Source: www.dpa.com
