Turnover increased by nearly 10 percent in the construction sector in 2008. The growth rate is the same as in 2007. With over 90 billion euro, the sector reached a new record level last year. After three quarters of booming growth, the impact of the economic recession was also felt in construction in the fourth quarter of 2008.
Construction turnover, 2008
Growth levels off in fourth quarter
The average level of turnover in the construction sector over the first three quarters of 2008 was nearly 12 percent higher than one year previously. With 6 percent, turnover growth in the fourth quarter was markedly lower due to the recession.
Turnover construction sector by branch, 2008
Turnover growth in all branches
In all branches of construction turnover improved in 2008. In residential and non-residential building (houses, office buildings, hospitals, etc.), a growth by nearly 11 percent was realised, the highest overall in the sector. Civil engineering recorded the lowest turnover growth (more than 5 percent). Other branches, e.g. installers, painters and plasterers performed well in 2008 and saw turnover improve by more than 10 percent.
Residential and non-residential building is by far the largest branch in the construction sector. Their share in total construction turnover currently amounts to nearly 50 percent. Civil engineering and the other branches account for 17 and 37 percent respectively.
Turnover small, medium-sized and large-scale businesses, 2008
Small businesses show highest growth rate
Small construction firms performed best in 2008. They recorded a turnover growth of more than 15 percent relative to one year ago. With more than 7 and more than 9 percent respectively, the turnover growth rates for medium-sized and large-scale construction firms were more moderate.
Hielke Koppert and Ron Duijkers