Market Research Report
Construction in France - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||960773|
Delivery time: 1-2 business days
|Construction in France - Key Trends and Opportunities to 2024|
|Published: August 19, 2020||Content info:||
Prior to the outbreak of COVID-19, the French construction industry was expected to record marginal growth in 2020, following an expansion of 2.2% in 2019. However, following the strict lockdown measures imposed between March and May, coupled with the weakening economic conditions, the industry has been severely impacted. According to Eurostat, the French construction industry contracted by 33.9% year-on-year in the second quarter of 2020 (the latest data available at the time of writing), following a year-on-year decline of 8.4% in Q1 2020.
Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, GlobalData forecasts the construction industry to contract by 11.6% in 2020. This assumes that the industry recovers in the second half with a return to normal working conditions, although there are downside risks associated with the possibility of a second wave of COVID-19 infections and the reintroduction of restrictions.
Over the remaining part of the forecast period, the industry is expected to register an average growth of 3.4% between 2021-2024. The industry's output will be supported by government measures to contain the impact of the outbreak on manufacturing output and support for businesses to cope with the outbreak by providing guarantee on loans. To reduce the economic impact of the virus outbreak, the government has made use of its fiscal policy tools, and the deficit is expected to increase in 2020 to EUR225.1 billion (US$251.6 billion), compared to EUR185.5 billion (US$207.4 billion) projected in the second revised Budget Act on 25th April 2020
This report provides detailed market analysis, information and insights into the French construction industry, including -
This report provides a comprehensive analysis of the construction industry in France. It provides -