Germany holds its course
Although German economic growth decelerated again in 2012, construction investments held and cuts in cement consumption were limited to just under five per cent. Moreover, prices remained stable and imports declined. However, the country’s cement producers saw no rise in overseas sales, which were hit harder than local deliveries. For 2013-14, the market is expected to be stable with hopes that growth is not far off.
The growth rate of the German economy declined for the third year in a row in 2012 as the economy expanded by two per cent, compared with 3.9 per cent in 2011 and 5.1 per cent in 2010.
Construction investments improved by just 0.9 per cent last year, compared with nine per cent in 2011 and 4.4 per cent in 2010. In 2009, both GDP and construction spending were in decline.