The German construction sector is anticipated to confront a significant downturn in 2024, as reported by a study from the DIW institute. The forecasted slump, a 3.5% decrease bringing the construction volume to €546 billion ($597.38 billion), marks a concerning trend for the industry. This downturn is noteworthy as it represents the first major contraction in the sector since the financial crisis, signaling a potential shift in Germany’s construction landscape. The study’s projection sets a cautious tone for the upcoming year, hinting at broader economic implications and the need for strategic adjustments within the industry.

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