German builders are on the brink of collapse
The construction industry is being strangled by rising costs and remorseless red tape
“We are sending our construction industry into the abyss,” warns Rolf Buch, boss of Vonovia, Germany’s biggest landlord. The crisis afflicting German builders is far from the country’s only economic problem. But it is particularly acute, and concerns a sector that makes up 12% of GDP and employs 1m construction workers. That makes it important for the health of the German economy and of its society.
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This article appeared in the Business section of the print edition under the headline “Shovel-unready”
Business September 9th 2023
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