The outlook for the European construction industry worsened in July after a recovery in June.
A balance figure of +2.8% of survey respondents said activity levels in July were higher than in June. This was down from the figure of +7.1% seen in June, and was the lowest figure recorded since the opening month of 2016.
The balance figure is the percentage of positive responses minus the percentage of negative responses.
However, respondents remained positive about the future, with a balance of +39.8% saying they expected activity to be higher in a year’s time than now. This was, however, down from the figure of +49.1% seen in June, but when compared to other months, a figure below 40% makes for good reading.
A balance of +20% of survey respondents said activity levels in July were better than a year previously. This compared to a higher balance of +17.9% in June, but maintained a measure of sentiment which was seen in the earlier months of the year, following May’s demise.
The CE Climate figure was also down in July to +18.2%, compared with the 24.7% seen in June, and is only one of three months in 2016 to date to see the figure drop below +20%.
With confidence down compared to June, but substantially higher than May, the general feeling remains one of fragility, especially given the uncertainty of the UK’s prospects moving forward, following its decision to leave the European Union in June.
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 15thof each month on our website. Full information can be found at www.cebarometer.eu