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30 May

German construction outlook deteriorates after already weak quarter

Orders at German construction companies in the first quarter were 18% lower than in the corresponding 2022 period, according to their association, Hauptverband der Deutschen Bauindustrie (Bauindustrie). The year-on-year dip was especially pronounced for residential construction, at nearly 40%, which could not be balanced by commercial or public projects, says Bauindustrie managing director Tim-Oliver Müller. The drop in orders foreshadows a drop in revenue, w…
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