Statistics - Value of new orders in the main construction sector down
Incoming orders in Schleswig-Holstein's main construction sector fell by around six percent to 2.1 billion euros in the first three quarters of this year. Adjusted for prices - i.e. after deducting inflation - the decline compared to the same period last year was as much as 14.3 percent, as announced by Statistics North on Wednesday. The biggest drop was in residential construction, where the value of incoming orders fell by 27.2 percent within a year, adjusted for price. The main construction sector includes civil engineering and building construction.
In the first three quarters of 2023, the larger companies in the main construction sector with 20 or more employees generated turnover of just under 2.6 billion euros. This is 3.5% more than in the first nine months of the previous year. Adjusted for prices, however, there was a decline of just under five percent. According to the statisticians, only public building construction recorded a notable increase in turnover. In this area, there was an increase of 20.1 percent to just under 128 million euros.
Pm Statistics Office North
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- The Statistical Office for Hamburg and Schleswig-Holstein revealed that the construction industry in Schleswig-Holstein witnessed a significant decrease in incoming orders, with a 14.3% drop when adjusted for inflation, in the first three quarters of the year.
- Despite the overall decline, the Statistics Office North reported that the larger construction companies in Schleswig-Holstein with 20 or more employees experienced a slight increase in turnover within the main construction sector, although adjusted for prices, there was a decline.
- In the face of these statistics, it's essential for construction companies in Schleswig-Holstein to closely monitor trends and adjust their strategies accordingly to navigate the challenges posed by fluctuating incoming orders and inflation in the construction market.
Source: www.stern.de
