The construction industry in the southern German state of Bavaria invested 7.5 percent more money in 2020 than in the previous year. The investment volume increased by 71.5 million euros compared to 2019 to a total of 1.03 billion euros, the Bavarian State Office for Statistics announced in Fürth on Monday. More than 80 percent of this sum was spent by companies on machinery and mechanical equipment, it said. According to the state office's data, companies classified as part of the main construction trade invested just under 820 million euros in 2020 - 6.6 percent more than in 2019.
According to the statistics office, companies operating in the finishing trade spent just over 200 million euros on investments, an increase of 11.4 percent compared to the previous year. In the administrative district of Lower Bavaria, construction companies invested almost one-third more money in 2020 than in 2019, according to the data. In the Upper Palatinate and Swabia regions, on the other hand, the amount invested declined compared to the previous year, according to the press release issued by the statistics authority.
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