According to the Economic and Steel Market Outlook 2012-2013/Q4 2012 Report from the Economic Committee of the European Steel Association (EUROFER), in the second quarter of 2012 construction activity in the EU declined by 3.7 percent year on year due to weak investment in construction industry.
On country level, Austria, Germany, Poland, Sweden and the UK were able to maintain construction output at the year earlier level or even registered some growth, while a double-digit decline in production output was registered in Spain, Slovakia and Hungary.
According to EUROFER, estimates for the second half of the current year confirm that activity remained on a downward trend. The construction outlook has darkened especially for Poland lately, with the last projects related to the Euro 2012 football championship completed.
For 2012, EUROFER expects construction output in the EU will fall by almost four percent, while private construction investment is forecast to decline further in 2013 against the background of high uncertainty levels and still difficult financing conditions.