German home building permits tumble 18% in February, extending rout

Building permits for apartments in Germany fell 18.3% in February from a year earlier, government data on Thursday showed, underscoring a continued downturn in demand in the construction and real estate industry.

Germany has been jolted by the most severe slump in the property sector in decades. Some 18,200 permits were issued, which is 4,100 fewer permits than a year earlier, the data showed, as a slump enters its third year.

The number of building permits is an important indicator of future construction.

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