| Zusammenfassung: | Austria's overall economic outlook continues to be stable but it is weaker than expected half a year ago. GDP growth will be similar to the performance in the Euro area average. The main reason for the downward revision was the repeated dampening of world trade which was the limiting factor of an export driven recovery in Austria. This dampens investment and puts pressure on non-residential construction, whose outlook is positive but the least favourable within the three main construction sectors. On the other hand, housing is still a key driver. Currently, a slowdown in growth in new residential construction can be observed which puts pressure on the total construction industry and related industries because of its dominance. The Euroconstruct Country Report for Austria gives in-depth information on the Austrian construction market until 2016. It covers in detail the housing market, the non-residential sector and civil engineering (new and renovation, respectively). Additionally, essential background information and an overview of the macroeconomic situation are provided until 2017.
|
|---|