Press release No. 107 of 14 March 2022
Turnover in building completion work,
2021
-3.2% on the previous year (in real terms)
+3.7% on the previous year (in nominal terms)
Fourth quarter of 2021
-9.1% on the same quarter a year earlier (in real terms)
+0.4% on the same quarter a year earlier (in nominal terms)
Persons employed,
2021
+1.5% on the previous year
Fourth quarter of 2021
+1.1% on the same quarter a year earlier
WIESBADEN – Turnover in building completion work declined by 3.2% on a real basis (price adjusted) in 2021 compared with 2020. All branches of building completion work were affected by this decline in turnover in 2021. Due to the substantial increase in construction prices (just under 7%; excl. VAT), however, nominal turnover was up by 3.7%. Delivery bottlenecks regarding construction materials can be expected to be one of the reasons for this price increase. Based on provisional results, the Federal Statistical Office (Destatis) also reports that the number of persons employed in 2021 increased by 1.5% on a year earlier.
Turnover in real terms down by 9.1% in the 4th quarter of 2021 year on year
In the fourth quarter of 2021, real turnover in building completion work was 9.1% lower than in the fourth quarter of 2020 (+0.4% on a nominal basis). In addition to price increases, the reasons for this decline were mainly anticipatory effects due to the end of the temporary reduction of VAT rates at the end of 2020, which had led to a record turnover in the fourth quarter of 2020 (base effect).
The number of persons employed in building completion work rose by 1.1% in the same period.
Basic data and long time series are available in table Quarterly survey of building completion work (44152-0001) in the GENESIS-Online database.
