The economic picture in 2021 turned out better in the Austrian construction sector than predicted six months ago. Current
official baseline data show a smaller decline in construction in 2020. Additionally, strong momentum in the first half of
2021 points to a significantly higher increase in construction output in 2021. Growth in the construction sector as a whole
thus remained close to the overall European trend. Non-residential and civil engineering showed a relatively strong expansive
development in 2021 which can be seen as a counter-reaction to the negative impact of the pandemic in the year before. Residential
construction, which recorded the smallest declines and is already at a high level, shows the lowest growth potential.
Forschungsbereich:Regionalökonomie und räumliche Analyse