Slow growth for Danish construction

An average annual growth rate of 1.1% is forecast for Denmark’s construction market between 2013 and 2017, mainly fuelled by the residential sector, according to data from market research company Timetric.

The value of overall construction output in Denmark is expected to reach €28 billion by 2014 and €30 billion by 2017.

The residential market is expected to increase 1.4% a year between now and 2017, while 1.2% growth is expected in the infrastructure sector, a 0.3% annual rise is expected in the industrial construction sector, and 0.9% growth per year is expected in commercial construction.

Residential building constituted the largest segment within the construction industry, accounting for a 46.8% share of industry output in 2012.

Timetric said the Danish construction industry saw average annual declines of 3.3% from 2008 to 2012. It said the Danish economy was caught in a period of sluggish growth, with continuing gloomy conditions across most of Western Europe was also impacting its prospects.