Euroconstruct has forecast that European construction growth will fall to 0% by 2024.
It is predicting a drop in growth to 0.2% in 2023 across Euroconstruct’s 19 member states, with no recovery anticipated until 2025.
The body, which analyses and consults on the construction markets in Europe, made its prediction at its recent annual conference in London. The organisation said a significant amount of the negative outlook stems from the residential and residential renovation sectors, fuelled by a fall in consumer confidence and an oversupply in many countries.
The only segment showing positive momentum is civil engineering.