September 5, 2018 / 9:16 AM / 2 months ago

German construction association raises 2018 revenue growth forecast

BERLIN, Sept 5 (Reuters) - German construction firms are benefiting from surging demand for property, higher state spending on construction and low borrowing costs, the ZDB construction association said on Wednesday when raising its revenue growth forecast for 2018.

Construction sales are now expected to grow by 5.5 percent this year, up from the previous forecast of 4 percent, ZDB managing director Felix Pakleppa said.

“Germany’s booming construction will continue to support overall economic growth,” Pakleppa said. For 2019, ZDB expects sales growth of between 5-6 percent. (Reporting by Michael Nienaber Editing by Madeline Chambers)

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