Ongoing Recovery in European Construction

Euroconstruct estimates that GDP will grow by 1.9% per annum for the 19 participating European countries in the years 2016-2018, which is virtually unchanged from the December (Budapest) forecasts. The year 2016 will see the GDP of the 19 member countries grow by 1.8%, a forecast which is slightly below the 2% projected in December 2015, while growth of 1.9% is foreseen for 2017. Notably, the year 2015 was the first time in eight years that all Euroconstruct countries recorded an increase in GDP, a development which is expected to continue over the next three years.

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