CE Barometer April 2010: Recession over
By Chris Sleight13 April 2010
April saw activity another rise in confidence for the European construction industry. With a balance of +31.8% of respndents saying they had seen an increase in work compared to March, this measure of confidence was at its most buoyant for three years.
The industry's future outlook also remained strong in April, with a balance of +42,6% of respondents saying they thought activity would be higher in a year's time - the fifth month in a row this measure of confidence has been above +40%.
But perhaps the most significant result of April's survey was that a balance of +0.7% of respondents said activity was higher than a year ago. This is the first time this backward-looking measure has been positive since May 2008, and although it is only just in positive territory, it indicates the construciton industry is growing again.
This ties in with previous CE Barometer surveys. Respondents have said since April last year that they expected activity to pick up in 12 months' time, and the fact that it now has vindicates their judgement.
With all these measures of confidence in positive territory, the results of April's CE Barometer say explicitly that the recession in European construction is over.
Once again, it is important to stress that the that the CE Barometer only shows the way the markets are moving, and what proportion of respondents are feeling that change. It does not and cannot give any indication of how volumes, or the value of work compare to previous highs or lows.
CE would like to thank all those that took part in the April survey. It was completed by more than 300 construction professionals in 30 countries around the region.
The survey, which takes just a one minute to complete, is open to all construction professionals working in Europe. The CE Barometer survey is open from the 1st to the 15th of each month on our website. Full information can be found at www.cebarometer.eu