Germany’s construction sector on Tuesday raised its outlook and now sees revenue growth of almost 9% in 2019, in a sign that the boom continues for one of the remaining growth drivers in Europe’s biggest economy’s as its manufacturing falters.
Revenues from housing construction are forecast to increase 9% this year, ZDB said, driven by fiscal incentives to help Germans acquire property and ease Germany’s housing shortage.
Business construction is expected to reach a growth rate of 7.5% as the sector is seen maintaining its high pace in the third quarter, but will lose steam in the fourth, ZDB added, as lower numbers of constructions permits point to less investment.
News Source – Reuters
https://in.reuters.com/article/us-germany-economy-construction/germanys-booming-construction-sector-lifts-sales-forecast-idINKCN1VV12B