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Growth in Austrian Construction Industry Slowed Again
Production growth to fall from 4.8 per cent in 2011 to a maximum annual average of 3 per cent in 2012, bringing output value to € 30bn. New residential construction with an increase of roughly 6 per cent for the year.
Growth in Austrian Construction Industry Slowed Again / Picture: © Vindobona.org
The good news is that in 2011 Austria's construction industry was able to completely offset the losses caused by the recession. Construction output increased by 4.8 per cent to € 29.1bn in nominal terms last year, which represents a return to pre-crisis levels. The bad news is that this positive trend will not last. Although construction activity was still upbeat in the first half of…
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