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On 10 June, FIEC launched the 67th edition of its Statistical Report, a digital publication providing an overview on the development of the construction industry in the European Union in 2023 - a year full of major challenges for the construction industry, especially in the housing sector.

The report analyses 22 countries individually, as well as the EU as a whole, on the basis of the following elements:

- General overview (general economic situation, general economic policy, public policy in relation to the construction industry);

- Gross value added;

- Investment in total construction, new residential buildings, renovation and maintenance of residential buildings, non-residential buildings and civil engineering;

- Employment in construction and its share in total EU employment;

- Building permits;

- Evolution of prices for certain construction materials.

In 2023, investment in construction declined at a rate of 2,2%. The outline for all segments but for civil engineering is negative. FIEC Vice-President for Economic & Legal Affairs, Rüdiger Otto, says that “the outlook for the construction market varies across the EU, with growth in some countries and contraction in others.”

CRISIS IN HOUSEBUILDING

One of the biggest concerns facing the construction sector is the crisis in housebuilding. According to data collected by FIEC, residential construction is expected to decline by 5.7% in 2024, following a decline of 2.6% last year.

“The outlook is particularly gloomy in the Nordic countries. In many EU countries, companies have complained that government measures to tackle the housing crisis have so far proved insufficient” explained Rüdiger Otto. He adds that the crisis in housebuilding "has the potential to negatively impact employment", with the number of people employed and companies operating in the sector falling in some EU countries.

Watch the VIDEO TEASER via this YouTube link.