Cancellations of residential construction projects in Germany rose to a new high in October as housing demand weakened further, results of survey by the ifo institute showed Monday, adding to signs of recession in the biggest euro area economy. The share of companies that reported canceled housing projects rose to 22.2 percent from 21.4 percent in the previous month. "It's getting worse all the time, with more and more projects failing due to higher interest rates and elevated construction prices," Klaus Wohlrabe, head of surveys at ifo, said.
"In residential construction, new business remains very low and companies' order backlogs are diminishing."
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Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.