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The average annual growth for the time period up to 2016 is expected to be around 1.7% in Germany, at 1.43% in Switzerland and 1.07% in Austria.
With a growth of 1% per year, Italy will also strengthen its performance until 2016.Spain remains the most problematic country, with a 1% annual decline expected until 2016.The promise of construction growth will most likely materialize in the countries along the shores of the North and Baltic Sea, as well as in Ireland which is said to grow by 30% by 2016.This is a significant recovery, which was preceded, however, by an even greater slump of Irish house-building.Poland is the second driver for growth on Europe’s construction front with a 20% growth forecast.Until 2016, growth in construction in Europe is mainly expected for the North and Baltic Sea region.
Meanwhile, the unprecedented housing crisis in Southern Europe has at least hit the bottom.
This is the forecast published during the 77th Euroconstruct Conference in Oslo, as Holzkurier reported.
No big jumps are expected in the German-speaking countries.
Three years of relatively constant construction growth are predicted for the United Kingdom (2014: +4.4%, 2015 +4.7%, 2016: +3%).
For the whole Europe, analysts project a weak growth of 1.2% this year.
In 2015 (+2%) and 2016 (+2.2%), the recovery is likely to pick up.