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87th Euroconstruct Conference: European Construction Market Outlook until 2021 – Austrian Construction Market Development is Slowing Down But Remains Positive. Euroconstruct Country Report Austria

Michael Klien and Michael Weingärtler
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Michael Weingärtler: WIFO

in WIFO Studies from WIFO

Abstract: The economic environment for the Austrian construction industry was very favourable in 2018 with growth rates well above the EU average. The WIFO forecasts indicate that the growth differential will decrease over time, resulting in a slower overall economic expansion by 1.7 percent in 2019. This slowdown is negatively affecting the non-residential construction sectors, above all office construction. But also the housing market appears to have peaked in 2018, with lower growth projections until 2021. Following the European trend, Austrian civil engineering is the segment with the highest growth prospects, mainly due to planned investments in the road and rail network. Although Austrian construction is weakening, all segments of construction are expected to continue to grow until 2021.

Date: 2019 Written 2019-06-27
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Handle: RePEc:wfo:wstudy:61871