91st Euroconstruct Conference: European Construction Market Outlook until 2023 – Austrian Construction Market Development. Country Report Austria

Michael Klien and Michael Weingärtler
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Michael Weingärtler: WIFO

in WIFO Studies from WIFO

Abstract: In line with the European trend, the pandemic also affected the Austrian construction industry. After the landslide declines in the spring of 2020, the situation stabilised visibly, and many sectors were able to return to pre-crisis levels as early as the summer of 2020. After the turn of the year, momentum in construction picked up significantly in March 2021, and despite renewed lockdowns in many sectors of the economy, construction was able to continue its recovery path relatively unhindered. Total construction is expected to grow by 3.5 percent in 2021 in Austria, with the best outlook non-residential construction – however this must be seen as a counter-reaction to the crisis, as this was also the sector where the biggest losses were recorded in 2020.

Keywords: Construction Market; Forcasts; Housing; Residential; Non-Residential; Civil Engineering (search for similar items in EconPapers)
Date: 2021 Written 2021-06-24
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:wstudy:67245

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