2024 European construction activity expected to be worse than in 2023, says Euroconstruct

Following an unexpected but welcome period of growth in 2022, the construction industry within the 19-Euroconstruct countries is facing a gloomier outlook in 2023 and beyond. Assessments of the consequences of the interest rate hikes and the war in Ukraine have increasingly dampened avenues of growth within the industry. While the Euroconstruct network was still forecasting stagnation of total construction output in 2023 and 2024 around a year ago, the expected rates of change slipped into negative territory in the summer of 2023. The country experts are now forecasting a decline of 1.7% for 2023, with the decline ...