98th Euroconstruct Conference: European Construction Market Outlook until 2027 – European Construction Sector Set for Moderate Recovery in 2025. Summary Report

The updated 98th Euroconstruct Winter Forecast 2024 shows that, for the second year in a row, European construction output will decline in 2024, with the decline being more pronounced than in the previous year. The weak macroeconomic environment, combined with high budget deficits, high construction costs and high interest rates, resulted in a very difficult year for building construction, especially in the residential sector. Further losses are also expected in residential construction in 2025, while construction as a whole is likely to stagnate. A stronger upturn is not expected until 2026. Only civil engineering is coming through the current crisis relatively unscathed, thanks to public projects. With contributions from Roch-Eloi Grivet, Nathalie Kouassi, Max de Lange, Pascal Marlier, Antonio Mura, Markku Riihimäki, Adam Sochacki, Antonella Stemperini.