Details

92nd Euroconstruct Conference: European Construction Market Outlook until 2024 – Austrian Construction Market Development. Country Report Austria
Monographs, November 2021, 38 pages, https://www.euroconstruct.org
 
The economic picture in 2021 turned out better in the Austrian construction sector than predicted six months ago. Current official baseline data show a smaller decline in construction in 2020. Additionally, strong momentum in the first half of 2021 points to a significantly higher increase in construction output in 2021. Growth in the construction sector as a whole thus remained close to the overall European trend. Non-residential and civil engineering showed a relatively strong expansive development in 2021 which can be seen as a counter-reaction to the negative impact of the pandemic in the year before. Residential construction, which recorded the smallest declines and is already at a high level, shows the lowest growth potential.
JEL-Codes:L7, R21, R31
Keywords:Construction Market, Forcasts, Housing, Residential, Non-Residential, Civil Engineering
Research group:Structural Change and Regional Development
Language:English