German construction sector grows
A worker is seen behind scaffoldings at a construction site
Berlin - Arab Today
The German construction sector achieved its highest revenues since 2000 last year and new orders were at their strongest level since 1996, data showed on Friday.
Low interest rates, a strong labor market and a lack of other lucrative investments have created a construction boom, especially in home building, in recent years.
Revenues for firms with at least 20 employees rose by 7.4 percent to almost €72 billion ($76.27 billion), the sixth consecutive increase, data from the Federal Statistics Office (FSO) showed.
Construction industry associations expect sales to rise by 5 percent this year to hit the highest level since 1995.
Data published on Thursday showed rising construction helped the German economy quadruple its growth rate to 0.4 percent in the fourth quarter of 2016.
Source: Arab News
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