European Construction Industry Has Passed Its Growth Peak – Expansion Continues
The upturn in the European construction industry peaked in 2017 with a 4.1 percent increase in construction output. However, construction output also grew strongly in 2018, with the 2.8 percent growth rate being the second highest since the financial market and economic crisis. For the coming years, the Euroconstruct research network forecasts a sustained slowdown in growth in the construction sector, which will continue to expand overall. This assessment is strengthened by the confident mood among construction companies. Expansion is being held back – also in Austria – by the flattening of the increase in new residential construction. The role of the civil engineering sector as a new growth engine is strengthening.