German Construction Spending Goes Berserk

More evidence that the panic in Europe is leading to a real estate bubble in Germany.

German real estate spending went berserk in March.

From Eurostat:

Among the Member States for which data are available for March 2012, construction output rose in 10 and fell in four. The highest increases were registered in Germany (+30.7%), France (+17.8%), the United Kingdom (+14.8%) and Italy (+9.5%), and the largest decreases in Romania (-8.8%), Portugal (-6.8%) and Spain (-1.8%).  Building construction increased by 11.7% in the euro area and by 11.9% in the EU27, after -10.1% and -5.1% respectively in February 2012. Civil engineering rose by 16.4% in the euro area and by 14.3% in the EU27, after -13.0% and -10.5% respectively in the previous month.

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Photo: Eurostat

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