Thursday, June 13, 2013

13/6/2013: Boom-time in German Building Industry?

Ifo published some new survey data on German economy. One that jumps out is the Architects Survey. Per Ifo (emphasis mine): "The business climate improved significantly at the beginning of the second quarter of 2013 and has not been as favourable since the German reunification boom at the end of the 1990s, according to the remarkable results of the Ifo Institute's quarterly survey of freelance architects."

Freelance architects "assessed their current business situation as significantly better than in previous quarters and business expectations have also improved compared to last quarter's assessments. 
  • The share of architects surveyed who described their cur-rent business situation as "good" increased from 41% to 43%. 
  • Business expectations also improved compared to last quarter’s assessments. The share of partici-pants that expressed scepticism about the future fell considerably from 16% to just 10%. 
  • 57% of the architects surveyed signed new contracts in the first quarter of 2013
  • Number of new contracts for detached and semi-detached houses in Q1 2013 is the same as in Q4 2012 - at a level that is almost twice as high as the low point reached in 2006 and 2007.
  • Total number of new orders for the planning of multi-family buildings in Q1 2013 was around 150% higher than the figure just six months previously.
It's a boom-time in Germany and Angela might be feeling a bit more confident, assuming the euro news are not too bad come elections...
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