Germany commercial construction new orders index, real
Germany commercial construction new orders index, real stood at 108.1 in 2025, according to Deutsche Bundesbank. It is one of the indicators in the Property market (annual) table (Value · Annual), with a complete series running from 1992 to 2025. The complete series with an interactive chart, free to download.
This indicator in the Property market (annual) table
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Real Economic Indicators | |||||||||||
| Total new orders index for the main construction industry, total, commercial building constructions, at constant prices | 108.1 | 102 | 109.2 | 120.4 | 139.8 | 125.2 | 139.6 | 131.8 | 133.2 | 128.6 | |
| Bulwiengesa AG commercial property price index, offices - vacancy rate, 127 towns and cities - Bundesbank calculations | 6.4 | 5.7 | 4.8 | 4.3 | 4.2 | 3.7 | 3.4 | 3.9 | 4.5 | 5.3 |
Understanding germany commercial construction new orders index, real
The volume of newly signed contracts secured by the main building industry for private non-residential projects drives this forward-looking demand gauge. Focused entirely on commercial structural developments, the index captures the legally binding commitments to finance future corporate workspaces, industrial facilities, and retail environments. By relying on constant prices, the metric strips out the distorting effects of fluctuating labor and material costs, providing a pure view of the physical pipeline of upcoming work. It acts as a critical leading indicator for the construction sector, distinguishing itself from lagging realization metrics by measuring the immediate influx of new developer capital.
Interpreting the momentum of commercial building contracts requires filtering out the extreme lumpiness inherent in large-scale corporate procurement. Year-on-year evaluations offer the most dependable view of underlying developer confidence, neutralizing the sporadic nature of mega-project contract signings that can wildly skew single-period observations. As early estimates rely on rapid survey responses from major contractors, the index frequently undergoes revisions as smaller firms submit their finalized order books. Observers must exercise caution when forecasting near-term economic activity from this measure, as a secured contract merely marks the beginning of a protracted scheduling, procurement, and execution cycle rather than immediate deployment of labor and materials.
Frequently asked questions
- How does the index handle the impact of rising raw material costs?
- The use of constant prices specifically removes cost inflation, isolating the real volume of the contracted work.
- Are civil engineering contracts like private toll roads included?
- The scope is restricted to structural building construction, leaving heavy civil engineering in a separate category.
- Does a canceled contract lead to a retroactive adjustment?
- Significant cancellations of previously recorded orders can trigger revisions to ensure the index accurately reflects the viable pipeline.