Economy

Germany’s housebuilding sector is ‘in a confidence crisis’

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A construction site with new apartments in newly built apartment buildings.

Patrick Pleul | Picture Alliance | Getty Images

Germany’s housebuilding sector has gone from bad to worse in recent months.

Economic data is painting a concerning picture, and industry leaders appear uneasy.

“The housebuilding sector is, I would say, a little bit in a confidence crisis,” Dominik von Achten, chairman of German building materials company Heidelberg Materials, told CNBC’s “Squawk Box Europe” on Thursday.

“There are too many things that have gone in the wrong direction,” he said, adding that the company’s volumes were down significantly in Germany.

In January both the current sentiment and expectations…



Source cnbc.com

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