European Construction Markets Slowing Down. Euroconstruct Forecast Until 2022

The decline in growth rates in the European construction industry continued in 2019. From 3.2 percent in 2018, real growth in construction volume fell to 2.3 percent in 2019. The slowdown is essentially following the overall economic downward trend, albeit at a slightly higher level or with a delay. As growth rates decline, regional and sectoral differences in the European construction industry also decrease. For the coming years, the forecasts of the Euroconstruct research network indicate further expansion, but only just above 1 percent. This is also largely in line with the situation in the Austrian construction industry, which in 2019, however, grew even more strongly than the weakening economy.