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93rd Euroconstruct Conference: European Construction Market Outlook until 2024 – The European Construction Market Proves to be Resilient, but Recovery Slows Down. Summary Report

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  • Euroconstruct

    (Euroconstruct)

Abstract

The latest forecasts from the 93rd Euroconstruct analysis confirm the ongoing recovery in European construction, even if the growth forecast for 2022 had to be lowered. Among the three construction sectors, growth is distributed evenly, with rates just above 2 percent in real terms. Residential construction mainly benefits from increased activities in the renovation sector, supported by public subsidy programmes. The growth in non-residential construction can be seen more like a rebound effect from the 2020 crisis. Civil engineering is supported by public subsidy programmes that serve to stimulate the economy. However, the current increases in construction costs and economic uncertainties due to the war in Ukraine are dampening the outlook to 2024. Detailed results and forecasts were presented to a professional audience at the 93rd Euroconstruct Conference in Warsaw (Poland) from 9 to 10 June 2022. The Euroconstruct Summary Report provides a macroeconomic analysis and an overview of the European construction industry by sectors (housing, non-residential construction, and civil engineering; split into new and renovation, respectively) up to 2024. With contributions by Yngve Abrahamsen, Ludwig Dorffmeister, Thomas Endhoven, Adam Sochacki and Mariusz Sochacki.

Suggested Citation

  • Euroconstruct, 2022. "93rd Euroconstruct Conference: European Construction Market Outlook until 2024 – The European Construction Market Proves to be Resilient, but Recovery Slows Down. Summary Report," WIFO Studies, WIFO, number 69698, April.
    • Handle: RePEc:wfo:wstudy:69698
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