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European Construction Sector Moves up A Gear in 2015: Selected Results of the EUROCONSTRUCT Winter Conference 2014

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  • Ludwig Dorffmeister

Abstract

According to the latest analyses by experts from the 19 member states of the EUROCONSTRUCT network, total construction work will increase by over 2% over the course of this year. Similarly large increases are also expected in 2016 and 2017. With a probable increase of a good 7½%, civil engineering looks set to develop in the most favourable manner over the three year period. Residential construction is expected to grow at a slightly slower pace of 6½%. This, however, will primarily be due to the subdued development of construction measures in existing buildings, and less to demand for new-builds, which will pick up perceptibly. In contrast to the new-build sector, however, construction measures in existing buildings will return to their pre-crisis levels of 2007 as early as 2007. The third construction sector, non-residential construction, will see the lowest increase over the three years to 2017 of around 6%. This will be due to the economic situation, which remains unfavourable in several European countries, and looks set to improve only slowly. As a result, companies will remain cautious about commissioning construction work.

Suggested Citation

  • Ludwig Dorffmeister, 2015. "European Construction Sector Moves up A Gear in 2015: Selected Results of the EUROCONSTRUCT Winter Conference 2014," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(02), pages 37-42, January.
    • Handle: RePEc:ces:ifosdt:v:68:y:2015:i:02:p:37-42
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    JEL classification:

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

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