According to the Economic and Steel Market Outlook 2016-2017/Q2 2016 Report from the Economic Committee of the European Steel Association (EUROFER), construction output rose by 2.4 percent year on year in the final quarter of 2015. Output growth was particularly strong in Spain, Sweden, Slovakia and Poland, whereas activity in France, Italy, Belgium, Austria and the Czech Republic continued to decline.
According to EUROFER, the key driver of activity growth in the EU construction sector remained improving demand for residential property, fuelling both new private and public projects.
The EUROFER report indicated that the outlook for 2016 and 2017 is rather positive. Construction activity is steadily seen to be gaining momentum, as the rebound is expected to become more broad-based. Residential activity will remain a key driver of growth, owing to the continued robust outlook for residential property demand, particularly in metropolitan areas.
Total EU construction output is forecast to rise by two percent in 2016 and by 2.5 percent in 2017.