Due to the economic stagnation it is expected that the production of the construction industry will decrease during 2002 and 2003. During 2001 production increased by 2.5% compared to the previous year.
This year it is expected that production will drop by 1.7% and also for 2003 there will be the same drop in production. These conclusions may be read in the report Â'Bouwprognoses 2002 - 2007Â' (Construction Forecasts 2002 - 2007) by the Ministry of Housing, Spatial Planning and the Environment, published today.
In 2001 there was already a drop in housing production, but this year there will also be a drop in industrial construction, as well as in land, water and rail construction. It is expected that this will continue in 2003. Mid-term (2004-2007) a slight improvement is expected with annual growth rate of 0.5%.
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(source: Ministry of Housing, Spatial Planning and the Environment)