What does 2023 hold for the German construction market?

Scott Hazelton Consulting director at S&P Global Market Intelligence

20 April 2023

The post-pandemic economic recovery that started in the spring of 2022 was cut short by the energy and cost-of-living crises caused by the Russia-Ukraine war, but November–December data releases suggest the current recession could be shallower than had been previously feared.

The fallout from the Russia-Ukraine war only began to seriously dampen Germany’s economic activity when gas and power prices skyrocketed, owing to Russia’s progressive curtailment of gas exports.

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