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German construction sector expects recovery in sales in 2022 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Concrete forms are being prepared by construction workers in Berlin on May 17, 2017, Germany. REUTERS/Hannibal Hanschke

BERLIN, (Reuters) – Germany’s construction industry is expecting sales to rebound in 2022 following a lull this past year caused by the coronavirus pandemic.

In a joint statement, they stated that nominal sales would rise by 5.5% and reach 151 billion euro ($171billion) in 2022 after an expected increase of 0.5%. After a decline of 6% in 2021, they expect real-term sales to rise 1.5% next year.

Many construction firms are suffering from the effects of supply bottlenecks, such as shortages of steel, timber and insulation material.

Construction employment is expected to rise by another 10,000 to 915,000 next year.

($1 = 0.8840 euros)

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