Düsseldorf (dpa / lnw) - The construction industry in North Rhine-Westphalia is also clearly feeling the effects of the current crises. "In all sectors, the industry recorded a significant drop in orders in the first nine months of this year compared to the same period last year," said the general manager of the North Rhine-Westphalia construction industry association, Beate Wiemann, on Thursday in Düsseldorf.
For the period from January to September 2022, companies with 20 or more employees in the main construction trades in North Rhine-Westphalia reported a nominal increase in sales of 8.4 percent according to the association, but adjusted for price this means a drop in orders of 6.6 percent the previous year. Price-adjusted sales fell by 3.9 percent. In September, the industry even had to accept a real decline in incoming orders of 16.6 percent. Price-adjusted sales were 5 percent below the previous year's level.
Wiemann warned that the downward trend in the construction industry is also having an impact on overall economic production and employment. Because according to the Leibniz Institute for Economic Research (RWI), construction investments amounting to 1 billion euros generated macroeconomic production effects of 2.44 billion euros.