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Construction activity in Western Europe to 2002: marked increase to be followed by flatter growth path

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  • Volker Rußig

Abstract

At the 48th EUROCONSTRUCT Conference, on 6-7 January 2000 in Cambridge, the current estimates for construction activity for 1999 and forecasts for 2000 were presented along with the outlook for 2001 and 2002 - for 15 Western and Central/Eastern European countries. In Western Europe real construction output will increase from 2½% to 3%, or to more than EUR 800 billion. Thereafter, construction output will continue to grow, but the growth path will flatten to about 1½% per annum. The contribution of the three main construction sectors will be uneven. Residential construction will grow in the forecast period (1999 to 2000) by only 8%, with new residential construction slowing growth. The number of new housing completions, which probably surpassed the 2 million mark in 1999 in the EUROCONSTRUCT countries, will fall in 2000 to 1.9 million and in 2002 to 1.8 million units. Non-residential construction and civil engineering will both expand at a 10% pace.

Suggested Citation

  • Volker Rußig, 2000. "Construction activity in Western Europe to 2002: marked increase to be followed by flatter growth path," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 53(05), pages 3-12, March.
    • Handle: RePEc:ces:ifosdt:v:53:y:2000:i:05:p:3-12
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    JEL classification:

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

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