The recent Euroconstruct forecasts indicate a noticeable weakening of construction activity from 2022 onwards for Austria
and Europe. Although the order situation in Austria remains strong, the assessment has changed significantly since the beginning
of the year. While the Austrian construction industry survived the immediate COVID-19 crisis relatively unscathed, the sector
has been struggling with ongoing construction cost problems since the exceptionally rapid recovery in 2021. The construction
industry has been particularly affected by price increases in essential commodities such as steel and oil. Economic uncertainty
is also increasing, further dampening the construction outlook until 2024.