Construction: Current Business Situation in Residential Construction Hits All-Time High

The business climate in construction clouded over in January. On the one hand, contractors participating in the Ifo Business Survey were more satisfied with their current business situation in January, with the indicator reaching its highest level since autumn 2013. On the other hand, contractors were markedly more cautious about the short-term future than in December, which led to an overall drop in the climate indicator. From 2009 to 2011 the business climate improved considerably; and has remained at an exceptionally high level ever since. Similarly favourable survey results have only been seen in 1991 and at the turn of the year 2006/2007.