- Build concerns amidst sales expansion in construction sector
The construction industry in Lower Saxony has seen a significant increase in revenue, with the public construction sector leading the way. According to the Association of Construction Companies in Lower Saxony, revenue in this sector surged by 22.7 percent to 429 million euros. However, the association remains cautious, as this growth is likely due to a few large projects and the orders for the now realised revenue usually date back 24 months.
Residential construction orders in Lower Saxony increased by 21.9 percent, contributing to a 4.3 percent rise in revenue to 1.2 billion euros. On the other hand, commercial construction revenue experienced a more moderate increase of 4.9 percent to 1.3 billion euros. Despite the growth, orders in commercial construction decreased by 16.3 percent in Lower Saxony.
Revenue in commercial infrastructure saw a more substantial increase, rising by 16.6 percent to 2.3 billion euros. Road construction orders increased by 9.7 percent, but unfortunately, revenue in this area decreased by 1.3 percent to 875 million euros.
The lowest revenue growth was recorded in public infrastructure, with an increase of 1.5 percent to 689 million euros. The association is particularly concerned about this sector, as it considers residential and public construction to be problem areas.
The average number of employed workers in the construction industry in Lower Saxony slightly increased to around 65,000, a 1.1 percent rise. However, the number of hours worked in the industry decreased by 0.9 percent to around 36 million.
The Association of Construction Companies in Lower Saxony, led by Christian Staub, President of the Baugewerbeverband Niedersachsen and Vice President in the Zentralverband Deutsches Baugewerbe, has expressed concerns about the industry's future despite the slight improvement in employment and orders. The association is calling for new funding opportunities to secure affordable housing in Hannover.
For companies with more than 19 employees, revenue in the construction industry increased by 8.5 percent to 6.8 billion euros in the first half of the year. Orders in public construction in Lower Saxony increased by 45.8 percent, offering a glimmer of hope for the industry's future.
Despite the mixed results, the Association of Construction Companies in Lower Saxony remains vigilant, advocating for the industry's growth and stability in the face of these changing trends.
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