Rapid recovery of the construction industry in Europe: : Construction volume will grow by 3,8% in 2021 and the losses incurred in 2020 are expected to be recovered this year. .
Not exactly in the case of Spain, as it was among the countries that suffered the most drastic drop in construction in 2020. In Spain, the sector is expected to grow by 7% and at least compensate for part of the losses. .
In contrast, Portugal presented a very strong performance 2020 in, and continues to climb with a 3,2% increase expected this year..
The civil engineering branch, which seems to be showing significantly above-average growth momentum in recent years, has the most promising prospects in the coming years. In Spain, it is expected to grow by 4,5% and in Portugal by 7%.
In Spain, it is expected to grow by 7,6%, thanks to the momentum of refurbishment 10,4%.
Portugal does not have such a good outlook: this branch of construction is expected to fall by 0,1%, partly due to the drag from private non-residential construction 2,1%.
In Europe, non-residential construction, which was the hardest hit by the crisis, shows a weak recovery trajectory. Nevertheless, in Spain it is expected to increase by 4,9% and in contrast, Portugal is expected to decline by 0,1%.
Residential construction will continue to offer stable growth rates, although this growth dynamic is expected to start to fall from 2021 onwards 2021. In Spain, new construction will contribute with a growth of 8%. However, this sector in Portugal only presents certain expectations in the world of refurbishment, where an increase of 0,7%.
CNC points out that the growth in refurbishment could have been much more significant, as the implementation of the Next Generation funds is being delayed more than expected. .
Therefore, in the Iberian Peninsula refurbishment is key for the sector.
According to Andimac, the average expenditure of Spanish households on construction and installation materials forecast for 2021 is 1.000 euros, so the sector's turnover would climb to 19 billion euros..
Sources: CNC, EUROCONSTRUCT, FIEC, Andimac