Wave of cancellations in German housing construction at new high -Ifo

<p>Wave of cancellations in German housing construction at new high -Ifo</p><p><a href="https://piqsuite.com/reuters/wave-of-cancellations-in-german-housing-construction-at-new-high-ifo" target="_blank" rel="nofollow">Full Story HERE</a></p><p>Germany's residential construction sector was again hit by a wave of cancellations in October, according to a survey published on Monday that showed a record number of firms reporting abandoned projects. </p><p>In October, 22.2% percent of companies reported cancelled projects, up from 21.4% the previous month, the Ifo economic institute said.</p><p> "It's getting worse all the time, with more and more projects failing due to higher interest rates and elevated construction prices," says Klaus Wohlrabe, Ifo head of surveys. </p><p>"In residential construction, new business remains very low and companies' order backlogs are diminishing."</p><p>German Construction Industry In Deep Scheisse….</p>

This article was written by Ryan Paisey at www.forexlive.com.