Euroconstruct forecasts slow recovery

The latest briefing from construction market forecasting network Euroconstruct predicts a slow recovery for European construction in 2021.

The report also looks ahead to construction output in 2022, forecasting it will, on average, remain below the level achieved in 2019.

Euroconstruct has combined figures from its 19 European member nations, resulting in a forecast of an average 9% decline by the end of 2020.

The UK is predicted to be the market hardest hit by the coronavirus pandemic, with the 2020 decline across the Euroconstruct nations averaging just 7% when the UK’s figures are excluded.

The report shows that markets in the Nordic countries are remaining stable, with the total market in 2021 (bar Sweden and Finland) expected to return to around the level of 2019.

The Netherlands, the UK and Spain are expected to be the slowest to recover, while Euroconstruct’s figures show Poland currently seeming ‘crisis-resistant’, with constant growth anticipated between now and 2022.

Other countries expecting to see construction output figures in 2022 ahead of those of 2019 are Norway, Belgium, Italy and Portugal.