European Construction Demand Grows Even More Strongly in 2017 – Selected results from the EUROCONSTRUCT Summer Conference 2017

After six years during which European construction volumes contracted by over a quarter, there was a turnaround in 2014 when construction activities in the 19 countries of the EUROCONSTRUCT network increased by 1%. In the years that followed the pace of growth increased steadily by 1.8% in 2015 and 2.5% in 2016. In 2017 the research network’s experts expect construction activities to expand by almost 3%. This would represent the fourth consecutive year of an upturn in construction activity and the third year of higher growth. Overall, the European construction industry’s recovery is progressing rapidly. A closer look, however, reveals that in Spain, for example, the recovery is only in its early stages. The recovery is similarly slow in Ireland and several other countries in Southern and Eastern Europe. In a number of other countries, by contrast, construction volume already significantly exceeds its “pre-crisis level.” These countries include, for example, Poland, Switzerland and Germany. Even if the upturn in construction in several countries is only progressing slowly, the European economy’s robust recovery, low interest rates, as well as the improvement in public finances seem to indicate that the upwards trend will continue. In 2018 construction activities in the EUROCONSTRUCT area are expected to grow by around 2½% and by approximately 2% in 2019. In the six year period from 2014 to 2019 construction volume can be expected to increase by a good 13% as a result.