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GDP from Construction volume in Germany recovered last year's losses due to the Corona crisis - In particular the finish trades enjoyed tremendous growth rates over the previous years. Positive growth is furthermore estimated for all construction sectors in 2022, with the commercial building sector in the lead. Likewise, construction prices are expected to continue to rise more strongly than real production. The return of inflation is having a serious impact on the economy and private households. The main reasons for the high inflation are galloping energy costs and sharply rising material prices. The construction sector has been particularly hard hit. Following a significant increase in the past year, prices for construction services are expected to rise sharply again this year. Supply bottlenecks for lumber, steel, plastics and other important and other important construction materials are causing delays and sharp rising producer prices. If demand for construction work remains high, construction companies are able to pass on these cost increases to their customers. High prices can may also lead to a postponement of infrastructure and housing projects being postponed. At present, it cannot be assumed that the material bottlenecks will ease quickly. This harbors economic risks. Companies will only continuously expand their construction capacities, if they can count on permanently high demand for construction services. The digitization of planning, construction and approval processes is likely to accelerate infrastructure and residential construction projects - and thus reduce economic risks - at least in the medium term. This report is based primarily on the results of the construction volume calculation, which DIW Berlin conducts annually on behalf of the BBSR.
Title: | Bericht zur Lage und Perspektive der Bauwirtschaft 2022 |
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Author: | Stefan Rein ( stefan.rein@bbr.bund.de ) |
Editor: | BBSR |
Series: | BBSR-Analysen KOMPAKT |
Issue: | 01/2022 |
Published: | February 2022 |
ISBN: | 978-3-98655-055-4 |
ISSN: | 2193-5017 |
Language: | German |
For more information, please contact the authors and/or visit our German website.
This publication is only available in German.