Data published by the Federal Statistical Office (Destatis) showed that in November, incoming orders in the construction industry fell by 7.4% compared to the previous month. The 7.4% fall, which adjusts for calendar and seasonal effects, compares with a 2.7% fall for the month in 2022.
Incoming orders in the civil engineering sector decreased by 15.1% mom in November, while in the building construction sector orders increased by 1.6% mom. Destatis also said that incoming orders in the housing construction sector fell by 6.8% mom, while excluding housing construction orders increased by 7.2% mom. In general, the latest data is another bad sign for the country's real estate sector, which is experiencing the worst crisis in recent decades.
On an annual basis, incoming orders in the construction industry fell 2.7% in November. Orders in the civil engineering sector decreased by 6.1%, while orders in the building construction sector increased by 0.6%.
From the beginning of 2023 (to November), adjustments for calendar effect, the real volume of new orders in the construction sector was 4.7% lower than in the same period of the previous year. In nominal terms, the volume of new orders increased by 3.3% compared to the first eleven months of 2022.