Frankfurt (dpa) – Order books in the German construction sector posted a record for 2019, despite a setback at the end of the year, the Federal Statistical Office (Destatis) reported on Tuesday.
For the year as a whole, orders totalling 86.1 billion euros (93.5 billion dollars) were recorded, up 8.2 per cent on the year in nominal terms. Adjusted for price increases, the rise came in at 3.2 per cent.
The boom is being driven by strong demand in the residential sector for both houses and apartments, as well as public investment in road building and other infrastructure.
In a sign of a cooling wider economy, the December figure declined in adjusted terms by 5.0 per cent, and in November by 4.8 per cent, compared in each case with the same month the previous year.
Destatis compiles its figures on the basis of companies employing at least 20 workers.