REUTERS reports German Construction Industry to expect Stagnation

According to a REUTERS’s report, construction industry will have to cope with stagnating business, after a promising start into 2020. Turnover is supposed to stay at previous year’s level of 135 million EUR, as the trade association HDB stated. Taken into account the development of prices, this equals a decrease of three percent. “Corona epidemic will leave its traces also in our industry”, HDB president Peter Hübner said. The number of staff however might be stable at the level of 870.000. Industry had started the year with a record orders cushion of 52 Billion EUR, expecting a growth of turnover of about 5.5 percent. At the moment, the decline of orders would be at a 30 percent level. “If it goes on like this, it will be dramatic”, Hübner said.

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