Europe's construction output forecast

摘要

The Euroconstruct network of European construction forecasters has revised expectations for the market in 2013 to a decline of 3% - deeper than the 2.5% decrease it forecast at the end of last year. The outlook for Europe's construction output in 2014 has also changed, from expected growth of 1% to an increase of just 0.5%. Growth for 2015 of 1.7% is currently forecast. The strongest forecast declines in construction output next year are expected in Spain (-7.7%) and Portugal (-3.5%), while the largest increases are predicted for Norway (4.6%) and Sweden (3.5%). Residential construction shows the most promise for a recovery between now and 2015. Output is expected to decline 2.2% this year, returning to 1.1% growth in 2014, and to 2.3% in 2015.