Germany’s construction slump ‘taking longer than expected’

Neil Gerrard and Reuters

10 January 2024

Germany’s construction sector is set to remain subdued throughout 2024 as a slump sparked by its worst property crisis in decades takes longer to resolve than expected.

Germany’s construction spending is forecast to fall in 2024 for the first time since 2009 and the fallout from the financial crisis, according to a study by the DIW economic institute and seen by Reuters.

A separate study by Ifo economic institute showed that sentiment in residential construction is…

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