The Italian constructors' association Federcostruzioni has published a report about the Italian construction industry, raising the alert over the current deep crisis in the sector.
According to the figures in the report, Italy's construction turnover in 2008-2010 lost about €25 billion at current prices, corresponding to a decrease of 18.4 percent at constant prices. In 2010 alone, the contraction reached 6.6 percent, and the 2011 forecast is for a slight decrease of 0.5 percent.
Both residential and non-residential construction performed badly in 2010, with turnovers decreasing by 15.9 percent and 13.6 percent respectively, and they are still running at low levels in 2011 to date, with residential construction turnover still down 2.9 percent year on year, and non-residential construction turnover down by 2.5 percent. Moreover, public spending has not helped to absorb the shock, as it decreased by 11 percent year on year in 2010 and again by three percent in 2011.
The only positive field is reconstruction and refurbishing activity - traditionally a low steel-using sector - in which turnover increased by 2.2 percent in 2010 and by two percent in 2011.
According to the report, Italian construction industry will raise start to improve in 2012, when its turnover should see a slight increase of 0.9 percent year on year.