Total construction output within the 19 Euroconstruct countries is expected to grow by 1.8 percent p.a. on average from 2014 to 2016. The development in Europe is still very diverse. Highest growth rates are expected in Ireland (+9.7 percent) and in Eastern Europe (Poland +4.2 percent, Hungary +4.1 percent) which can be seen as a catch-up process. Within the five largest European countries, UK and Germany show the best outlook for 2014 with growth rates of 4.4 percent and 2.9 percent, respectively, mainly thanks to the good performance of residential construction. Nevertheless, considering the sharp decline in construction in the recent past, overall growth is still minor throughout Europe. – The Euroconstruct Country Report provides detailed information on the construction market development and its fundamentals in each of the 19 Euroconstruct member countries until 2016. The forecasts and analyses are presented on the country level and are based on a comparable harmonised dataset for the major construction sectors and indicators. The macroeconomic framework is also included.

GDP in the 19 Euroconstruct countries grew by 0.2 percent in 2013 and annual growth is expected to be around 2 percent from 2014 to 2016. New residential construction is likely to show growth well above GDP with rates of about 3.2 percent on average in this period. On the other hand, renovation and modernisation market looses momentum (+1.2 percent p.a.) pulling total residential construction down to around +2 percent p.a. in real terms. Although most Euroconstruct countries are clearly out of the recession, sluggish domestic demand and weak public sector finances will most likely continue to dampen non-residential construction which is expected to increase by only 1.5 percent p.a. on average in 2014-2016. The expected recovery will therefore be protracted because unemployment and public debt levels are high, and as low investments, tight credit supply and financial fragmentation in the Euro area continue to dampen domestic demand. – 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; new and renovation, respectively) up to 2016.

The 77th Euroconstruct® conference (12-13 June, 2014, Oslo) is organised by Prognoscentret AB (Sweden) and is part of a biannual series of presentations on the latest medium-term outlook for construction in Europe. The conference offers exclusive initial access to the latest macroeconomic and construction projections to 2016, up-to-date information about current trading and the forecast trends over the next years in key construction markets (housing, non-residential construction and civil engineering) with focus on Europe, and high-quality written documentation of the analysis, forecasts and presentations at the conference. Euroconstruct® conferences address all those involved in the construction activities: producers of building materials and equipment, construction companies, designers, architects, engineers, contractors, investors, financiers, insurers and other related professions.