European Construction: Stronger Growth in 2016 and 2017 – Selected Results of the EUROCONSTRUCT Winter Conference 2015

According to the latest analyses by experts from the 19 member states of the EUROCONSTRUCT network, construction demand in Europe is continuing to recover. Construction volume in the 19 EUROCONSTRUCT member states rose for the second consecutive year in 2015. In 2016 the volume of building work is expected to grow by 3%, which is almost double the rate seen last year. Growth is subsequently expected to slow slightly in 2017. Over the course of this year construction activity in a total of seven countries – France, Ireland, The Netherlands, Norway, Poland, Portugal and Spain – is expected to grow by around 4% and by a far higher rate in some cases. In the EUROCONSTRUCT area as a whole no major differences have emerged to date in developments in individual construction segments. While residential construction will expand by over 3% this year, growth rates of 3% for non-residential construction and of a good 2½% in civil engineering are forecast. The drivers of European construction demand include more positive economic developments, very favourable financing conditions, as well as a greater scope for expenditure on the part of several member states. In addition, however, demographic aspects – such as pronounced immigration and internal migration – and the marked restraint in construction seen in several European regions in recent years, also play an important role.