Perspectives, which provides economic activity forecasts for the construction industry for the coming year, is now online.
The year 2022 will have marked a historic peak for the industry. Hours worked will reach 210 million, a rise of 7% over the preceding year.
Once again this year, the Institutional and Commercial sector will have been the driving force behind this growth and will register a 12% increase in 2022. The Residential sector, boosted by an exceptional number of housing starts last year, is still profiting from them. Finally, the Industrial and the Civil Engineering and Roadwork sectors will have grown by 6% and 2%, respectively.
Although a slowdown is expected in 2023, activity will remain high, with a forecast total of 202 million hours worked. This is explained mainly by the economic conjuncture and the completion of major sites. Two sectors will be more affected by the situation: the Residential sector, which will drop by 7%, and the Institutional and Commercial sector, which will lose 3%. Finally, the civil Engineering and Roadwork sector will slow by 5% due to the end of major projects, and the Industrial sector will remain stable