The last Euroconstruct report clearly identified what was the cause of the contraction of the European construction sector: new housing. In Europe, the upward cycle of residential construction has been longer and more productive than expected, but right now, it is hitting a wall, erected by the rise in financing costs and in construction costs.

On the other hand, the forecast from six months ago still contemplated a chance for moderate growth for the rest of the construction market niches, which were not as overheated as housing. But the economic headwinds seem persistent and raise doubts about whether those markets that seemed capable of avoiding recession will finally do so. This will be one of the main issues that Euroconstruct will address at its next conference after collecting inputs from the construction sector in 19 countries.

Euroconstruct conference, Dublin (Irlanda), November 30th and December 1st

Programme and registration here