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Germany’s home-building crisis is intensifying as builders say they’re suffering from record cancellations and a lack of orders.
In October, 22.2% of residential construction companies said they were affected by project cancellations, according to a survey by the Munich-based Ifo institute. That’s the highest level since records began in 1991, surpassing the previous high of 21.4% in September. Business expectations in the sector have also plunged to the lowest level on record.
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