Lower production in construction industry is expected due to economic slow down

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%.

For more information please visit www.vrom.nl.

(source: Ministry of Housing, Spatial Planning and the Environment)

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