79th Euroconstruct Conference: European Construction Market Outlook until 2017 – European Construction Recovery Gains Momentum. Summary Report

N. N.

in WIFO Studies from WIFO

Abstract: Construction continues to recover throughout Europe in 2015, with stronger growth compared to previous years. Within the 19 Euroconstruct countries civil engineering will be the main driver, which is expected to increase on average slightly above 3 percent in the period 2015 to 2017. Traffic infrastructure works, above all in Eastern Europe, as well as the energy sector are pushing this positive trend. Non-residential construction is also forecasted to recover after only minor growth in 2014. Housing, which was strongly hit by the 2008 crisis shows the weakest growth rates among the three main construction segments. Continuously high levels of unemployment in combination with low real net wage levels seem to balance the current favourable financing conditions leading to low growth especially in the area of one and two family houses. The Euroconstruct Summary Report provides a macroeconomic analysis and an overview of the European construction industry by sectors (housing, non-residential construction and civil engineering; new and renovation, respectively) up to 2017.

Date: 2015 Written 2015-06-19
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