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Construction industry in Europe: Increasing production only in the medium term

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  • Volker Rußig

Abstract

After a slight decline last year to just €978billion, the aggregated construction volume of the 19 Euroconstruct countries will hardly escape stagnation in 2003 and increase only slightly next year. For 2005 the Euroconstruct institutes in 15 western and four Eastern and Central European countries expect an improved performance at approximately 2% growth. Residential construction that has had negative growth since 2001 will continue its decline into 2004, but at a slower pace, and thereafter will recover only very hesitantly. The slight recession in non-residential construction will be limited to the years 2002 and 2003; only in 2005 will growth gain momentum. In civil engineering the continuous upward trend flattened last year. Not until 2004 will growth speed up again. These are some of the major results of the 55th Euroconstruct Conference in Budapest in June 2003. As a main topic the conference examined the effects of EU eastern enlargement on construction and real estate markets in Western Europe and in the accession countries of Eastern and Central European.

Suggested Citation

  • 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.
  • Handle: RePEc:ces:ifosdt:v:56:y:2003:i:17:p:15-21
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    References listed on IDEAS

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    1. Erich Langmantel, 2003. "Medium-term outlook for non-residential construction in Germany," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(12), pages 10-13, June.
    2. Wolfgang Nierhaus & Wolfgang Meister & Jan-Egbert Sturm, 2003. "Wirtschaftsperspektiven Deutschland," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 10(04), pages 5-24, 06.
    3. 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.
    4. 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.
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    1. Volker Rußig, 2004. "To 2006 a renewed decline in housing completions in Europe," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(05), pages 35-41, March.

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    More about this item

    JEL classification:

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

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