CE Barometer for June
By Mike Hayes03 August 2022
The CE Barometer survey for June was undertaken during the first three weeks of July.
Construction professionals from 14 European countries took part in this month’s CE Barometer survey. The results show that today’s business remains strong, but also raise concerns about how well European construction is able to weather the storms of conflict in the east, supply chains stretched to breaking point, continuing energy uncertainty and Covid’s economic hangover.
Following two months of negative balance, respondents comparing current business activity with the previous have shifted significantly into the black, resulting in a balance figure of 22.6%.
(The balance figure is negative responses subtracted from positive responses).
In fact, only 9.7% of respondents reported current business levels being worse than those of the previous month – the lowest percentage since May 2018.
Looking at business levels compared with the same period in 2021, the picture is again positive, with almost half of respondents (48.4%) seeing improvement.
25.8% reported the same level of business, while the same number (25.8%) reported a decline, making the balance figure of 22.6% - noticeably healthier than last month’s 16.3%.
The overall picture is actually a reversal of last month’s barometer, which showed a more negative current picture and a rosier future outlook.
This month’s respondents, seeing solid current business levels, nevertheless looked ahead 12 months with a negative outlook, for the first time since February 2020.
In fact, the balance figure of -9.7% for expected business in 12 months’ time, is the lowest seen since 2011.
Whether this depressing forecast is an understandable reaction to concerns over the protracted conflict in Ukraine, or whether other business factors are at play, remains to be seen.