The outlook for the European construction industry improved in June after the sudden dip in May.
A balance figure of +7.1% of survey respondents said activity levels in June were higher than in May. This was an improvement from the figure of +3.1% seen in May, , but was still weak compared to the results of the CE Barometer survey from February to April.
The balance figure is the percentage of positive responses minus the percentage of negative responses.
Much more encouraging was sentiment about the future was also positive, with a balance of +49.1% of respondents saying they expected activity to be higher in a year’s time than now. This was a big improvement from the figure of +17.3%, seen in May, and it took this measure of confidence back to the high levels seen earlier in the year.
Another striking improvement was the balance of +17.9% of survey respondents who said activity levels in June were better than a year previously. This compared to a negative balance of -3.1% in May, and again took this measure of sentiment back to levels seen in previous months.
The overall rebound in confidence was reflected in the CE Climate figure – a composite number based on responses to all questions – which improved from +5.8% in May to +24.7% in June. Again, this took this overall measure of sentiment back to the strong levels seen from February to April this year.
With confidence apparently back where it was in April, the results of May’s CE Barometer survey might be considered a blip. However, they do underline that confidence remains fragile, and it is also important to note that the measure of month-to-month confidence has come back to the same extent as others.
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