increase in GDP, a develop- ment which is expected to continue over the next three years. Growth in total construction output for both and. Reports from the 84th EUROCONSTRUCT Conference. Munich, 24th Table 1 Main Demographic and Economic Indicators 78th EUROCONSTRUCT Conference November , Milan. 78th Reproduction or distribution of all or parts of the report is strictly.

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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.

77th EUROCONSTRUCT Conference 13th June 2014, Oslo

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. 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.

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 grow on average by 1. The adjustment is mainly a result of a brighter outlook for new civil engineering.


There are big differences within the Eurooconstruct countries. Ireland and Poland could see an average growth of 9 percent and 6 percent respectively in —measured at constant prices.

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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.

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.