Eastern European countries outperformed their western neighbours in construction output growth last year, a Cardiff conference has heard.
The 59th Euroconstruct Conference, hosted by global economic forecasting group Experian, heard that construction in eastern Europe grew by 6.6% in 2004, compared to 1.9% in western Europe.
James Hastings, associate director of Experian, said accession to the EU, high levels of inward investment and increasing wealth and prosperity had buoyed eastern Europe’s construction industry.
Experian predicts the region’s construction output will increase by 22% by 2007, with western Europe’s growth rate only expected to be about 5%.
The five largest construction markets, France, Germany, Italy, Spain and the UK, accounted for nearly 73% of total output in the Euroconstruct zone in 2004.
