Construction Sector to Remain Flat in Belgium in 2024

Belgium: Belgium's construction and installation sector is projected to stabilize in 2024 without a significant rebound, according to the construction federation Embuild. While building activity decreased by 0.7% in 2023, growth in infrastructure projects provided some support. However, a new housing construction crisis is expected to cause a 5% decline in activity.

The renovation sector is forecasted to grow by 1.6%, but this falls short of EU targets for reducing the construction sector's carbon footprint. Non-residential building is anticipated to see a modest growth of 0.9%, although renovation in this sector dropped by 2% after three years of positive growth.

Source: The Brussels Times