High interest rates and soaring building costs have drastically reduced the demand for new buildings in Europe. So far, ongoing projects and a heightened focus on sustainability have prevented construction volumes from shrinking, but we're expecting to see a steep decline begin to emerge in 2024. Zero growth in 2023 We’re expecting zero growth for EU construction volumes this year, an upgrade of our previous forecast which is mainly due to a better-than-expected first half of the year. Construction volumes still remain high. In June, EU construction production was at the same level as in the same period last year. ... (full story)