Order intake in the German construction industry down 10% in March

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Destatis/Fordaq
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According to the Federal Statistical Office (Destatis), real (price-adjusted) incoming orders in the construction industry in March 2020 were 10.5% lower than in February 2020, seasonally and calendar adjusted. Such declines in the order intake adjusted for seasonal and calendar effects are not uncommon. Nonetheless, this development indicates that companies have postponed planned construction projects due to the economic uncertainty in the Corona crisis. This is also suggested by the comparison of the previous year: real calendar incoming orders in the construction industry in March 2020 were 10.3% lower than in March 2019 after calendar adjustment.

In the less volatile three-month comparison, the real volume of seasonally and calendar-adjusted order intake fell by 4.3% from January to March 2020 compared to October to December 2019. Compared to the same period in the previous year, real order intake in the first three months of 2020 decreased by 2.9% after calendar adjustments. 

Without price adjustment, the decline in order intake is much weaker 

In nominal terms (not price adjusted), order intake in the construction sector in March 2020 was around 7.9 billion euros. Due to the sharp rise in construction prices, this was only 4.2% less than in March 2019 (8.2 billion euros), but after the record result of the previous year it was still the second highest figure since the start of the time series in 1991. Compared to the same period in the previous year, they rose Incoming orders in the first three months of 2020 nominally by 0.9%.

 

 

 

 

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