New orders in German building construction down 4.7% in May

Wednesday, 25 July 2012 15:38:21 (GMT+3)   |  
       

As reported by the German Federal Statistical Office (Destatis), the total price-adjusted value of orders received by building construction and civil and underground engineering enterprises in Germany decreased by 4.7 percent in May this year, compared to the same month of the previous year.
 
In May, building construction demand decreased by 11.5 percent, while demand in civil and underground engineering was down by 3.3 percent, both on year-on-year basis. The total turnover in building construction amounted in May this year to around €8 billion, indicating a decrease of 6.1 percent compared to May 2011.
 
Meanwhile, in the first five months of the current year the total price-adjusted value of orders in the construction industry increased by 5.7 percent over the corresponding period of the previous year. In January-May, the total turnover of the German construction industry amounted to approximately €30.5 billion, with a decrease of one percent from the same period of 2011.

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