The EU-27 construction sector : from boom to gloom.

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Stawinska (A). http://temis.documentation.developpement-durable.gouv.fr/document.xsp?id=Temis-0069206

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Industry, trade and services Author: Aleksandra STAWIŃSKA

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S t a t i s t i c s i n f o c u s 7/2010

The EU-27 construction sector: from boom to gloom Construction activities in the EU-27, asIn recent years the construction industry has been recorded by NACE Rev. 1.1 Section F,concentrated in Spain, while this sector hashighly provided employment to an estimatedalso been of major importance for the Polish and 14.8 million persons in 2007 (some 11.5 % ofCypriot economies. Around one quarter of all the non-financial business economy workforce),persons employed in the Polish non-financial while generating an estimated EUR 562 billionbusiness economy (NACE Rev. 1.1 Sections C of value added (9.3 % of the non-financialto I and K) were employed within construction business economy’s total value added).activities in 2007. The construction sector has historically witnessed Against this backdrop, the recent credit crisis and cyclical patterns to its developments. These may economic downturn have had some serious be linked to consumer confidence, the availability implications for the EU-27 construction sector. of credit (often in the form of mortgages), Employment has fallen sharply in many of the political events (such as a construction boom in Member States, particularly in Spain and the Germany following reunification), or general Baltic countries. This downsizing of the economic cycles. The peaks and troughs in workforce is reflected in declining output, as the construction activity tend to be more amplified EU-27 index of production for construction fell than those for the whole economy, perhaps as a 14.2 % between the first quarter of 2008 and the result of large projects being postponed and/or third quarter of 2009. cancelled during periods when economic output slows or contracts.

Figure 1: Production indices for construction, seasonally adjusted, EU-27 (%)

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85 I-2000

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Source: Eurostatsts_copr_q)

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I-2002

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I-2005 I-2006 Construction Building Civil engineering