La construction résidentielle en Europe

79th EUROCONSTRUCT Conference, Warsaw 2015

www.euroconstruct.pl page 1/3

PAB-PCR&F Institute

SUMMER CONFERENCE IN WARSAW JUNE 12, 2015 PRESS RELEASE

European construction growth holds on

The overall economic downturn throughout the European economies stopped in 2014. On-

ly Italy's GDP shrank at that time, while in 2012 and 2013 eleven respectively seven coun-

tries faced a decline within the EUROCONSTRUCT network.

The recent economic recovery is supported by low oil prices and by a considerably weaker

Euro in combination with remaining low interest rates. Within the period 2015-2017 eco-

nomic growth is expected in all 19 EUROCONSTRUCT countries which goes in the line

with EUROCONSTRUCT's previous projections.

The latest EUROCONSTRUCT

forecasts (June 2015) show a

further overall economic in-

crease by 1.8 % in 2015 (+0.3

percentage points compared to

the forecasts six months ago).

In 2016 and 2017 growth will

reach rates of about 2.0% and

1.7%, respectively.

In general it turned out that the

slowdown in economic activity

within European construction

and related sectors lasted long-

er than in the other sectors of economy. Nevertheless the recovery of the construction in-

dustry will take place now after seven years of crisis and stagnation.



Construction activity and economic growth in Europe (EC-19)

The level of construction activity will amount to around 1.37bn Euro in 2015 according to

the forecasts of the 79th EUROCONSTRUCT conference. The growth rate of total output

is expected to reach 1.9% and is predicted to stabilize at around 2.5% in the following two

years. Growth of construction will be higher than overall economic growth in 2017 – even

though construction output will be still far below the pre-crisis level at that time (-16% with

respect to 2007 total output); growth will be only minor compared to the recent losses.

Cumulated growth in new

construction is forecasted to

around 10% in 2015-2017 in

real terms (+1 percentage

point higher than compared

to the previous forecasts).

Renovation, on the other

hand, will grow less stronger

with a forecasted rate of

4.2% (-0.2 percentage points

lower than expected in No-

vember 2014).

In the period 2015-2017 a progress in all three main construction segments is forecasted.

Strongest growth of about 3.1% on an annual average is expected in civil engineering,

including two-digit growth rates in Central-Eastern European countries where new infra-

structure projects in the area of transport and energy production will stimulate the market,

all above in Poland. The growth rate of two remaining main segments will be significantly

lower and equal to about 2% annually in residential construction, and to about 2.2% for

non-residential construction.

In residential construction, as well, Eastern European countries are facing a much better

period with an expected growth by 4.4%, which is more than twice the rate of Western Eu-

rope countries. A similar picture can be seen in non-residential construction where Central-

Eastern Europe countries are expected to grow by 3.6% annually until 2017 (Western Eu-

ropean countries: +2.1%).



If you have any specific questions regarding the Warsaw conference please contact:

Mr. Mariusz Sochacki organiser of the 79th EUROCONSTRUCT Conference

Email: [email protected]

The results of the recent EUROCONSTRUCT Conference are available now!

A detailed country by country analysis "Country Report" and a sectoral summary analysis

"Summary Report" are ready to be ordered from your responsible member institute.

La construction résidentielle en Europe

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