CE Barometer July 2009: Up-turn continues
By Chris Sleight17 July 2009
Sentiment on the European construction industry once again pointed to a recovery in July, although current activity levels fell back as part of the seasonal summer downturn.
A balance of +23,2% of respondents said they expected activity to be higher in a year's time, compared to now. It was the fourth month running that this measure of confidence has been positive, although it was slightly down from June's figure of +25,6%.
However, there was a negative balance of -1,5% for month-on-month activity, indicating a slowdown in work from June. This was a disappointment following positive results in May and June, but was still a far cry from the levels of -30% or more seen at the end of 2008 and in the first quarter of this year.
The balance figures are calculated as the percentage of respondents giving positive responses, minus the number giving negative answers.
As a result of these two figures, the arrow of our clock again pointed to the ‘Upturn' segment. The strength of the sentiment, as indicated by the length of the arrow has been similar for the last three months.
However, one measure of sentiment that is still firmly in negative territory is the level of activity compared to a year ago. A massive balance of -75,3% of respondents said they were busier in July 2008 than this month. This is the lowest this confidence level has been, and it has been in negative territory all year.
CE would like to thank all those that took part in the May survey. It was completed by more than 300 construction professionals in 27 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