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European construction activity shows 'slight recovery'

RICS has released the 'Global Construction Monitor' for the first quarter of 2024. According to the report there is a slight recovery visible in Europe. Additionally, there has been an increase in North, Central, and South America, and conditions in MEA (Middle East and Africa) remain solid.

The report states that momentum continues to be hindered by financial constraints and a shortage of labour or skilled workers.


On a global level, the Construction Activity Index (CAI) recorded a value of +15 in the first quarter, compared to +10 previously. The most notable development in the current results is observed in Europe, where the CAI is slightly positive for the first time since early 2022.

Regarding the regional twelve-month workload expectations in private residential construction in Europe, the previously negative assessment has turned positive. Here, a net balance of +19 percent of respondents now expect an increase, compared to -11 percent previously. Also, survey participants across Europe expect an increase in construction activity in private non-residential construction over the next twelve months.

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