EUROCONSTRUCT forecasts were revised downwards in course of the current debt crises.
- Construction forecasts for this year and next downgraded from -0.3% to -2.1% in 2012 and +1.8% to +0.4% in 2013
- Civil engineering sector predicted to be the worst performing over the next three years, with an annual average rate of decline of 1.4%
- North/south pattern to projected construction performance anticipated over the next few years, with northern European countries outperforming their southern counterparts
The increasing perception that Greece will default and exit the eurozone tied to increasing fears of contagion has led Euroconstruct, a group of research institutes and consulting firms, to downgrade its GDP and construction forecasts for this year and next.
For more about Euroconstruct's forecast for the European construction market....
