German Ifo residential construction survey (Aug): Crisis intensified in August, number of Co's reporting cancelled projects at a new high.
- 20.7% of firms reported cancelled projects (prev. 18.9% MM)
- "Residential construction cancellations are piling up to a new high. We haven't seen anything comparable to this since the survey began in 1991,"
- 44.2% of firms reported lack of orders (prev. 13.8% YY)
- 12% of firms report financial difficulties.
- Majority expect further declines in business in the next six months
12 Sep 2023 - 08:13- - Source: Newswires
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