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Construction industry grows for the seventh year in a row

The German construction companies recorded the seventh year of growth in a row. The annual turnover in the construction industry rose by 5.1 percent in 2019 compared to the previous year, as the Federal Statistical Office announced. According to preliminary figures from the Wiesbaden authority, all branches of the construction industry recorded an increase in sales. The number of employees rose by 1.9 percent compared to the previous year.

Great demand for houses and apartments, as well as government investments in road construction, for example, have long ensured good business in the construction industry. However, part of the growth in sales can also be explained by the fact that companies rate higher prices for their services.

The main association of the German construction industry had already drawn a positive balance for 2019 in February. According to the association at the time, the companies in the construction industry in Germany had a turnover of 135 billion euros last year. The industry expects nominal sales growth of 5.5 percent in 2020.

The main construction industry includes the erection of buildings (building construction) as well as roads, railway lines and lines (civil engineering). The statistics from the Federal Office take into account companies with at least 20 employees.

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