construction


French construction sector reduces by 0.4% the GDP growth in 1H14

MADRID | The Corner |Besides naming the reshuffle of his Government, after a dispute over hauling the economy out of stagnation caused his government’s collapse, François Hollande has also committed to announce this week a package of measures to revive the economy, including specific stimulus for the construction activity, especially affected in terms of employment by a law to regulate the real estate market precisely adopted at the beginning of his term. It is estimated that construction activity in France represents about 8% of GDP and 1.2 million jobs.


Spanish construction sector will grow in 2015 for the first time in 6 years

MADRID | The Corner | The construction sector in Spain will grow next year by 1% compared to 2014, according to Cesce, a company specialized in credit services and commercial risk management. Thus this growth will change the downward trend that had maintained the sector during the last six years. According to Cesce, the building will boost the sector but the public works and engineering will have to reach the bottom and it will not start to recover until 2016, when it will reach 3% growth YoY.


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Spain registers the highest EU construction growth in 2Q

MADRID | The Corner | Spain was the EU28 member state with the highest increase in the production in construction during the 2Q, with an increase by 7.0% YoY, according to first estimates from Eurostat. Moreover, Spain was the fourth country in the EU28 with the biggest increase in the production in June, with a growth of 6.8%. However, the construction experienced a decline of 2.9% in June in comparison to May, which represents the second biggest monthly decline of this variable among the EU28 member states. In June compared with May 2014, seasonally adjusted production in the construction sector fell by 0.7% in the euro area and by 0.3% in the EU28.


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US residential construction recovers in July

MADRID | The Corner | After two months of decline, US construction rebounds in July at the fastest pace in eight months. As the Commerce Department reported yesterday, the number of housing starts rose 15.7% in July compared to June, reaching an annualized figure of 1.09 million units, the highest in eight months. Meanwhile, applications for building permits in the same month also advanced  8.1% to an annual rate of 1.05 million, after drops of 3.1 percent in June and 5.1 percent in May. Notably the permits to build single-family homes, a segment that accounts for three quarters of the U.S. housing market, increased in July by 0.9% to an annualized figure of 640,000, the highest since December 2013. In addition, permits for units in buildings with five units or more rose 23.6% in July to an annual rate of 382,000, representing its highest growth rate since January 2006.



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Spain’s construction company OHL to build Russian Olympic Flame resort

MADRID | After the bubble burst, the category of construction activity rapidly turned into a trap for many Spanish companies. Its dramatic effects have during the last four years shaken and closed enterprises, in the small and medium size sections as much as among the large corporative groups. Those who strive to survive the downturn must now find an edge, and Obrascon Hurate Lain or OHL may have proved just that.