Immobilien: Baubranche legt im Juni kräftig zu – Beschäftigung wächst

In June, the German construction industry experienced a significant growth spurt, with both sales and employment figures rising. According to the Statistisches Bundesamt, construction order intake increased by 11.3% when adjusted for price and calendar periods compared to the same month last year. Simultaneously, adjusted revenues grew by 6.6%.

Major projects contributed to this surge, with both the commercial and industrial sectors seeing substantial order increases. This trend was also evident in the April-June period, indicating a strong demand for construction services. Employment in the construction sector rose by 1.5% in June compared to the previous year, reaching approximately 545,000 people.

Felix Pakleppa, CEO of the Baugewerbeverband ZDB, noted that the June increase was particularly notable in road and public construction sectors. However, he cautioned against prematurely concluding a construction boom, as the year began with fluctuating figures. The construction sector benefits from the German government's billion-dollar investments in infrastructure projects.

In contrast, the residential sector has faced challenges, including rising interest rates that have driven up mortgage costs and made home building more expensive for both private buyers and investors. Nevertheless, there are signs of an upward trend in this sector as well. Baugenehmigungen (building permit applications) in the first half of the year rose by nearly 15%, the strongest growth in this period since the same half-year of 2016.

The Industrial Construction Association (HDB) expressed optimism about the construction industry's prospects, but lowered its revenue forecast for the year from a 2.5% increase to 1% when adjusted for price levels, considering the rising costs of construction. The head of HDB, Tim-Oliver Müller, remarked that it remains to be seen if these June gains represent a trend reversal or merely a short-lived boost.

He also indicated that the association expects construction sector employment to grow by one percent or 10,000 people this year, reaching around 933,000. An industry insider noted, "The economy is doing better than expected" – industry surprises with strong order growth.