96th Euroconstruct Conference: European Construction Market Outlook until 2026 – Austrian Construction Market Development. Country Report Austria

The year 2023 was expected to be difficult for the Austrian construction industry and was characterised by a continuous deterioration of the business climate. The indicators in the WIFO-Konjunkturtest (business cycle survey) for construction already turned pessimistic at the beginning of the year an...

Ausführliche Beschreibung

Bibliographische Detailangaben
Link(s) zu Dokument(en):WIFO Publikation
Veröffentlicht in:WIFO Studies
Hauptverfasser: Michael Klien, Michael Weingärtler
Format: book
Sprache:Englisch
Veröffentlicht: 2023
Beschreibung
Zusammenfassung:The year 2023 was expected to be difficult for the Austrian construction industry and was characterised by a continuous deterioration of the business climate. The indicators in the WIFO-Konjunkturtest (business cycle survey) for construction already turned pessimistic at the beginning of the year and reached levels last seen in the economically weak years of 2014 and 2015. Accordingly, the downward trend in the Austrian construction industry has accelerated significantly in 2023. The WIFO Economic Outlook of October anticipates increasingly sharp declines in 2023 and 2024. Construction activity is not expected to stabilise until 2025, and real growth in residential construction is not expected to return until 2026.