More evidence that the panic in Europe is leading to a real estate bubble in Germany.
German real estate spending went berserk in March.
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.