German construction industry sees turnover rising 2% in 2015

[BERLIN] Germany's construction industry expects turnover to grow nominally by 2 per cent to 101 billion euros this year - a slower rise than last year's 4 per cent increase, German construction bodies HDB and ZDB said on Wednesday.

"We should climb over the 100 billion euro mark this year for the first time since 2000," the two industry groups said in a joint statement. They added that the growth trend remained intact in 2015 though the pace would be slower.

A 2-per cent rise in 2015 would be the lowest increase since 0.5 per cent in 2012.

The strongest growth will be in the housing construction sector, with stable labour market conditions and low interest rates pushing housing construction up by 3 per cent.

Business construction should increase by 1.5 per cent but that could accelerate in 2015 if the economy is stronger than expected and oil prices remain low, HDB leader Thomas Bauer said.

But the lobby groups said they expect construction in the public sector to rise by just 1.0 per cent this year.

REUTERS