Overview

• The Ifo residential construction climate index rose in September to −21.8 from −26.4, the best reading since August 2022.
• Survey leader Klaus Wohlrabe said the sector is breathing easier but cautioned that a true turnaround is not yet confirmed.
• From January to August, authorities approved 151,200 dwellings, up 6.5% year on year, signaling more projects in the pipeline.
• Operational strains persist as the share of firms reporting order shortfalls increased to 46.7%, while cancellations edged down to 8.4%.
• The Bundestag and Bundesrat passed the time‑limited ‘Bau‑Turbo’ through 2030, with industry voices noting that higher rates and limited subsidies still weigh on activity.