The construction industry will be an economic powerhouse of Germany in the year 2017, the new president of the Main Union of German Construction Industry, Peter Hubner said, according to Die Welt.
Extremely cheap mortgages and population growth due to migration spurred housing construction, while budget spending prompted road building, Die Welt wrote, citing the expert.
“For the first time in more than 20 years, there is an increase simultaneously in all segments of the construction business”, Peter Hubner noted.
At year-end of 2016, the total revenue of the construction industry will grow by approximately 5%. The expert believe that next year the same rates of growth could be attained as well. This could be explained by the volume of orders, which almost reached historically high levels, Peter Hubner added.