The European umbrella association Euroconstruct again made a downward correction to the building-performance forecast for Europe at its spring conference, which was held on 14 and 15 June in London. In 2011, building performance had already declined for the fourth successive year and according to the current forecast 2012 is again expected to show a sharper fall of 2.1%. In December 2011, Euroconstruct had forecast a marginal decrease in 2012 of 0.3% to €1.3 trillion. Euroconstruct is now reckoning with a stabilisation (+0.4%) in 2013 and a slight plus of 1.7% in 2014. This means that building performance in two years is still 12% down on the level shown in 2008, which taking into account moderate growth can probably only be reached again in 2023.
Source:
http://www.euwid-wood-products.com/news/miscellaneous/single/Artikel/euroconstruct-no-longer-reckoning-with-recovery-of-building-business-until-2014.html
