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August 17, 2022

Construction cancellations surging in Germany

Many projects are still being canceled in Germany’s residential construction sector. The share of companies affected stood at 11.5 percent in July, down from 12.3 percent the previous month. In May, the share was as high as 15.8 percent. This is a finding of surveys by the ifo Institute.  “Order books are still full to bursting. But skyrocketing construction costs, higher interest rates, and diminished subsidy options are putting more and more projects in jeopardy. We have seen a wave of cancellations since April. All this is pushing the German government’s ambitious targets ...

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