According to the Economic and Steel Market Outlook 2017-2018/Q2 2017 Report from the Economic Committee of the European Steel Association (EUROFER), EU construction output fell by 0.3 percent year on year in 2016 and first data and estimates for the first quarter of the current year signal a rise in construction activity of 1.4 percent year on year.
According to EUROFER, the current strength of the residential sector is expected to continue, as the recovery which is already several years underway in Germany, the Netherlands and Sweden spreads to other EU countries. It is expected that non-residential activity will also gain momentum, in response to demand from service-oriented sectors. New infrastructure investment in the EU is forecast to increase mildly this year, but at a faster pace in 2018 as EU funds become available again for infrastructure projects in central Europe in general.
The EUROFER report indicated that total EU construction output is forecast to rise by 2.1 percent in this year, while in 2018 construction output growth is forecast to accelerate to 2.7 percent.