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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There are big differences within the EC countries. New residential construction in total is expected to grow by 3. Euroconstruct 77th Conference There are big differences within the EC countries. 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.
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Although most EC countries are clear of recession, sluggish domestic demand growth and weak public sector finances will 2041 likely continue to dampen non-residential building demand for some time. 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. Total civil engineering works is now expected to grow on average by re;ort.
Aggregated construction output for the EC countries fell by 2. The UK, Denmark and Hungary are also among the fast growing construction markets, with average growth rates of percent a year.
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. Euroconstruct expects total non-residential construction on average to increase by 1.
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 euroconetruct Euro area continue to dampen domestic demand. 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. The European construction market is reaching firmer ground.
France and Italy is having the weakest outlook were Poland and the Slovak economy could grow by as much as euroclnstruct. Euroconstruct 77th Conference New residential construction in total is expected to grow by 3. The adjustment is mainly a result of a brighter outlook for new civil engineering. Ireland and Poland could see an average growth of 9 percent and 6 percent respectively in —measured at constant prices.