Construction Activity in Western Europe Set to Pick Up Sharply and Grow by 5.7% in 2021
LONDON, UNITED KINGDOM -- Following a difficult start to the year for Western Europe’s construction industry, which contracted by 6.4% in 2020, economic activity has picked up significantly since the spring and is forecasted to rise sharply and grow by 5.7% in 2021, according to GlobalData. The leading data and analytics company notes that, with the region gradually emerging from its winter lockdown following a steady fall in infection rates and rising vaccinations, the outlook for the regional economy and industry is strong.
According to GlobalData’s report, “Global Construction Outlook to 2025, Q2 Update,” the countries that suffered the steepest contractions in 2020 such as France, Spain, Italy and the UK, will be amongst the fastest growing in 2021.