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    Tuhin Tahmid
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    In 2013, construction activity in Greece continued to fall but at a lower rate of around 25% according to provisional data. Cement consumption also dropped but at a lower 10% rate. Prospects for 2014 seem to show some improvements, though contingent on public works restarting. The Hungarian construction market grew by 9.6% in 2013 led by a 10.4% rise in non-residential buildings. However, housing completions continued to decline. In Ireland, there was no increase in cement consumption and construction output remained depressed, with no recovery in residential construction as demand remained weak across all sectors due to restricted bank lending and cuts to public spending.

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    In 2013, construction activity in Greece continued to fall but at a lower rate of around 25% according to provisional data. Cement consumption also dropped but at a lower 10% rate. Prospects for 2014 seem to show some improvements, though contingent on public works restarting. The Hungarian construction market grew by 9.6% in 2013 led by a 10.4% rise in non-residential buildings. However, housing completions continued to decline. In Ireland, there was no increase in cement consumption and construction output remained depressed, with no recovery in residential construction as demand remained weak across all sectors due to restricted bank lending and cuts to public spending.

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    6 views1 page

    Construction in Europe

    Uploaded by

    Tuhin Tahmid
    In 2013, construction activity in Greece continued to fall but at a lower rate of around 25% according to provisional data. Cement consumption also dropped but at a lower 10% rate. Prospects for 2014 seem to show some improvements, though contingent on public works restarting. The Hungarian construction market grew by 9.6% in 2013 led by a 10.4% rise in non-residential buildings. However, housing completions continued to decline. In Ireland, there was no increase in cement consumption and construction output remained depressed, with no recovery in residential construction as demand remained weak across all sectors due to restricted bank lending and cuts to public spending.

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    © All Rights Reserved
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    of 1

    cement consumption. The residential construction civil engineering sector grew by +8.

    6%, thanks
    subsector will further benefit from growing to positive developments in infrastructure works
    demand. The ongoing low interest rates will (particularly in the transport sector). The volume
    support investments in real estate. In addition, of new contracts was higher than in the previous
    high immigration will boost demand for residential year and a further increase in construction activity
    buildings. The non-residential sector is expected is expected for 2014.
    to benefit from positive economic developments
    in the country. Civil engineering, particularly road Future trends: According to most experts, cement
    construction, will be above the level recorded in consumption is expected to register slight growth
    previous years, since public expenditure in this in 2014.
    sector is expected to increase.

    IRELAND
    GREECE Overview: There is no increase in cement
    Overview: In 2013 construction activity continued consumption in the year. Irish construction output
    to fall, albeit at a lower rate (i.e. around -25%) remains depressed in 2013. No recovery has
    according to provisional data from the Statistics been recorded in residential construction and, in
    Authority. Cement consumption also dropped, most areas, there is a significant surplus in the
    but at a lower rate compared to the previous year supply of commercial and industrial premises. The
    (around -10%). Irish economy continues to demonstrate little or
    no growth. Demand in all sectors remains weak.
    Future trends: Prospects for 2014 seem to show Residential demand has recovered somewhat in
    some improvements, although this is conditional to Dublin, but this has been curtailed by restricted
    public works starting up again. bank lending. New house construction remains at
    a very low level. Public sector demand is restricted
    by weak government finances and cuts in capital
    HUNGARY expenditure.
    Overview: After several years of decline, in
    2013 the Hungarian construction market grew Future trends: There is potential for some small
    by +9.6% year-on-year. The construction of level of growth in 2014. Renewed growth is likely to
    non-residential buildings rose by +10.4% due be led by residential construction. Efforts are being
    to positive developments in the construction made to restart investment in public projects and
    of industrial buildings. However, the number of infrastructure but public and private financing both
    housing completions continued to decline. The remain difficult.

    CONSTRUCTION IN EUROPE - BREAKDOWN IN 2013


    Billion euro at constant price: 1 284.6
    New
    civil engineering
    13.6% New residential
    17.7%

    Civil engineering R&M


    8.5%

    Non-residential R&M
    15.8%
    Residential R&M
    27.7%

    New non-residential
    Note: EC19 Countries 16.7%
    Source: Euroconstruct, VTT, Buildecon

    16 │ ACTIVITY REPORT 2013

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