8 3 rd EUROCONSTRUCT Summary Report Figures on GDP and its composition for the years are the official estimates from the. According to a Euroconstruct report published in December , renovation accounts for 56% of the total Nordic building construction market. 76th Euroconstruct Conference: European Construction Market Outlook until – New Housing Construction Performs Well in Country Report Austria .
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The European construction market is reaching firmer ground. The growth rate is weak given the low starting level but after a handful of hard and turbulent years, any sign of stability and recovery is welcome. France and Italy is having the weakest outlook were Poland and the Slovak economy could grow by as much as 3. Inflation is low and the recovery will most likely be a protracted one, as high unemployment and debt, low investment, tight credit, and financial fragmentation in the Euro area continue to dampen domestic demand.
Aggregated construction output for the EC countries fell by 2. The forecast suggests that the decline in construction output bottomed out last year, measured at constant prices, on the lowest in 20 years. Euroconstruct expect investments to grow on average by 1.
euroconstrruct Even if the volume of construction works should grow as projected in the forecasting period, output and capacity utilization in the European construction sector as a whole will remain at near-depression levels. New residential construction in total is expected to grow by 3.
EUROCONSTRUCT – PR_86
Although most EC countries are clear of recession, sluggish domestic demand growth and weak public sector finances will most likely continue to dampen non-residential building demand for some time. Euroconstruct expects total non-residential construction on average to increase by 1. Total civil engineering works is now expected to reportt on average by 1. The adjustment is mainly a result of a brighter outlook for new civil engineering.
There are big differences within the EC countries. Ireland and Poland could see an average growth of 9 percent and 6 percent respectively in —measured at constant prices. The UK, Denmark and Hungary are also among the fast growing construction markets, with average growth rates of percent a year.
In the other end of the scale, we find the Czech Republic and Spain where construction output looks set to remain below levels.
Le BIPE – 77th EUROCONSTRUCT Conference 13th June , Oslo
Then Poland, Norway and Switzerland have the highest relative level, while Spain, Ireland and Portugal are at the bottom of the table. Euroconstruct 77th Conference New residential construction in total is expected to grow by 3. Euroconstruct 77th Conference There are big differences within the EC countries.