In December 2024, construction production in the European Union increased by 0.4% compared to the previous month. However, compared to December 2023, the seasonally adjusted figure showed a decline of 0.8%, according to preliminary data from Eurostat.
The average annual construction production in 2024 saw a decrease of 1.3% compared to 2023.
Among EU countries, the highest monthly growth in construction production was recorded in Poland (+5.7%), the Czech Republic (+4.6%), and Portugal (+3.6%). On the other hand, the biggest declines were observed in Bulgaria (-3.4%), the Netherlands (-2.0%), and Italy (-1.7%).
The construction of engineering structures in the EU rose by 0.7% month-on-month and 1.1% year-on-year, while the construction of buildings (both residential and non-residential) increased by 0.6% month-on-month but fell by 1.3% year-on-year.
Final data for November 2024 showed a 0.8% increase in overall construction production in the EU compared to the previous month. Engineering structure construction rose by 1.3% month-on-month, while building construction (residential and non-residential) saw a slight decline of 0.1% month-on-month.
The ongoing stagnation in the EU construction sector is negatively affecting demand and sentiment in the domestic long products market. Since the end of 2020, the sector has been recovering, partly driven by substantial government support that increased demand for steel products. However, since early 2023, the European construction industry has faced challenges due to macroeconomic issues and market uncertainty.
In 2023, the average annual construction production in the EU increased by 0.1% compared to 2022.
According to Eurofer, in 2024, construction volumes in the EU decreased by 0.4% year-on-year. However, a positive growth trend of 2% year-on-year is expected for 2025.