European construction demand: After a dramatic slump, a breather expected in 2011 – Selected results of the Euroconstruct Summer Conference 2011

In 2008 to 2010, European construction shrank by 15% to around €1.3 trillion. Especially strong was the decline in residential construction, which shrank during this period by more than a fifth. The other building construction sectors also showed a double-digit decline. In contrast, civil engineering reported a still comparatively low reduction in construction activity of nearly 3½%. While residential construction in Europe this year is expected to grow by almost 2%, the development in the two other construction sectors will continue to trend downwards. In particular, civil engineering activity should again be significantly restricted. Overall, therefore, a slight decline of total construction volume in Europe of just under ½% is expected for 2011. In 2012, output in the 19 Euroconstruct countries is expected to increase again on the whole, with growth intensifying in 2013.