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Construction activity in Europe: Anxiously awaited upswing Further results of the 54th EUROCONSTRUCT winter conference 2002

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  • Volker Rußig

Abstract

In 2002 European construction volume stagnated at approximately €953 billion, and also in 2003 no one expects an end to the recession in European construction. For 2004 and 2005 a moderate rise in construction volume in Europe is forecast by the EUROCONSTRUCT network (with the Ifo Institute as its German partner) amounting to +1% and +2% respectively. Real construction volume will reach a new maximum of ca. €990 billion in 2005. Great Britain and Spain alone will contribute approximately €28 billion to the absolute increase of approximately €38 billion (2002 to 2005). Germany, however, with its strong weight in European construction activity will prevent major growth since the building recession will not be overcome in 2003 and since barely more than stagnation is expected in 2004. As long as this important construction market does not expand significantly, there is little hope for a strong construction upswing in Western Europe. Central Europe can expect a steep growth path already in 2003 with above-average expansion of building activity. Indications of a stronger synchronisation of construction activity in Europe are not evident.

Suggested Citation

  • Volker Rußig, 2003. "Construction activity in Europe: Anxiously awaited upswing Further results of the 54th EUROCONSTRUCT winter conference 2002," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(03), pages 11-22, February.
    • Handle: RePEc:ces:ifosdt:v:56:y:2003:i:03:p:11-22
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    File URL: https://www.ifo.de/DocDL/ifosd_2003_3_3.pdf
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    References listed on IDEAS

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    1. Hans-Werner Sinn, 2002. "The red tail light - The reasons for Germany's weak growth and the necessary reforms," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 55(23), pages 3-32, December.
    2. Volker Rußig, 2003. "Continuing decline in housing completions in Europe," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(02), pages 11-19, January.
    3. Volker Rußig, 2002. "New Residential Construction in Europe: Bottoming Out in 2002. Selected Results of the EUROCONSTRUCT Summer Conference 2002 in Dublin," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 55(13), pages 25-32, July.
    4. Volker Rußig, 2002. "Building Activity in Europe: Following the Lull, Markedly Higher Growth Contributions Again," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 55(14), pages 27-36, July.
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    Cited by:

    1. Volker Rußig, 2003. "Housing completions in Europe to 2005: downward trend continues," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(15), pages 15-21, August.
    2. Gert G. Wagner, 2003. "Flat-rate premiums the best way to implement a citizens' insurance," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(17), pages 3-6, September.
    3. Volker Rußig, 2003. "Construction industry in Europe: Increasing production only in the medium term," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(17), pages 15-21, September.
    4. Manfred C. Hettlage, 2003. "Looking Beyond the Next Round of Wage Negotiations - The Concealed Wage Increases," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(15), pages 3-6, August.

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    JEL classification:

    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction

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