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Germany's struggling construction sector is showing no signs of a recovery
The German construction sector is showing no signs of recovering, even after being in a crisis for months and despite pledges of support and investment from the government. Recent economic data shows the industry is still in a “dismal situation,” Carsten Brzeski, global head of macro research and chief economist for Germany at ING, told CNBC. Permits for newbuilds dropped 24.2% in May compared to the same month last year, and declined nearly 40% compared to May in 2022, according to the latest building permit figures published last week. The data shows that between January and May of this year, permits for ... (full story)
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- Posted: Jul 23, 2024 2:06am
- Submitted by:Category: Fundamental AnalysisComments: 2 / Views: 3,716
