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Geberit says German construction market is resiliant

Geberit says German construction market is resiliant
FILE PHOTO: Chief Executive Officer Christian Buhl of Swiss sanitary products company Geberit addresses a news conference to present the company's annual results, in Zurich, Switzerland, March 13, 2018. REUTERS/Moritz Hager -
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MORITZ HAGER(Reuters)
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ZURICH (Reuters) – Piping and bathroom systems maker Geberit <GEBN.S> sees no signs of a slowdown in Germany, its biggest market, despite recent weak economic data, Chief Executive Christian Buhl said on Thursday.

“There is a still strong demand in the market for building, construction,” Buhl told a conference call after the Swiss company reported second quarter earnings in line with forecasts.

“There is a renovation need, so we are not really that much worried about demand, although the general economy in Germany seems to slow down, especially the exports,” he added.

Slumping exports sent Germany’s economy into reverse in the second quarter, data showed earlier this week, with GDP falling 0.1% quarter on quarter.

(Reporting by John Revill)

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