After the reunification, in Germany economic growth was weak from a historical as well as international perspective. In particular, the years between 1995 and 2005 can be identified as a period of pronounced growth weakness. On the expenditure side of the gross domestic product, private consumption and investments in particular contributed to the sluggish growth. On the production side, especially the service sector and the construction sector showed a weak growth performance. The construction sector and in particular private housing investment alone accounted for about one-third of the lower growth rate compared to the rest of the Euro Area.