European Construction Outlook

European construction activity remained resilient over 2023 despite the headwinds created by higher financing costs, input cost inflation and labour shortages. We generally expect this resilience to continue into 2024, although the outlook varies by country and sector. In this webinar Dr Nicholas Fearnley discusses the outlook and key risks for construction activity in Europe, and answer the following questions:
• How does the outlook vary across sectors and countries?
• How do delays to NGEU funding affect the outlook?
• When will the renovation wave take off?
• What is the outlook for material construction costs?
• What are the risks and implications of higher interest rates and construction costs?

Nicholas Fearnley

Head of Global Construction Forecasting

+61 2 8458 4262

Nicholas Fearnley

Head of Global Construction Forecasting

Sydney, Australia

Dr Nicholas Fearnley is the Head of Global Construction Forecasting, based in Sydney. Nicholas oversees the teams that produce the various construction, mining, and maintenance studies. He works over the full construction spectrum, and regularly presents and provides commentary for both the construction and mining industries.

Nicholas joined Oxford Economics in 2019 after working at Macromontor, where he was responsible for producing regular Australian building construction forecast reports, and bespoke cost escalation and material demand forecasts.

Prior to joining Macromonitor, Nicholas completed a PhD at the University of Sydney with a thesis titled: “A Critical and Quantitative Analysis of the Relationship between Informal Institutions and Economic Development.” He was awarded the Walter Noel Gillies Prize for best PhD thesis in Economics, and his thesis was accepted without edits.

Nicholas has undergraduate degrees in both Accounting and Applied Finance from Macquarie University, and a first class honours degree in Accounting from the University of Sydney with a thesis titled: “Culture and the Measurement Decision Offered by Investment Property”.

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