Poland with highest growth in construction sector in UE in 2011.

By bne IntelliNews June 27, 2011
Poland will record highest growth in construction sector between all countries of European Union in 2011, according to the findings of report prepared by Euroconstruct - study group for construction analysis and forecasting. "Construction in Europe has declined for the fourth year in a row. The downturn is about to end this year, but there is variance by country and region. In 2011, growth was highest in Poland, but the Nordic countries also achieved good growth, while France and Germany achieved reasonable growth. In Spain, Ireland and Portugal, construction is still clearly declining. Great Britain and smaller Central and Eastern European countries are also seeing a decline", report reads. According to the Euroconstruct's outlook construction in western Europe is expected to grow by less than two per cent per annum until 2020; a slightly slower pace than the GNP. The prospects are best in the new EU countries in central Eastern Europe, where the need for construction is huge as the countries are trying to reach the same level of prosperity as the rest of Europe. Construction is anticipated to grow by 4.5 to 5 per cent per year. In the Nordic countries, both GNP and construction is anticipated to grow faster than the European average. In wealthy West European countries, construction will grow slowly (1.5 per cent per year), focusing on renovation and the construction of new housing. Southern European countries are only expected to reach slightly over the 2010 level in 2020. The economic problems and increased debt will impact construction in these countries for a long time, Euroconstruct said. (ISB)
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