European Construction Sector Returns to Growth Path
After the double-dip recession starting in 2008, the European construction sector returned to growth in 2014. With an average rate of +1.0 percent across all 19 Euroconstruct member countries, the recovery is not very strong but can be found in almost all countries. Despite the sluggish economic recovery and sustained budgetary pressures, the outlook of the European construction industry for the coming years is clearly positive. The forecast for 2015–2017 predicts production increases slightly above 2 percent in each year. With a growth of 1.0 percent in 2015 and 1.3 percent in 2016 prospects for the Austrian construction industry are also positive, but clearly below the European average.