The global economic slowdown, coupled with rising public debt in the eurozone, has wreaked havoc with construction markets across Europe.Construction companies across the European Union are paying the price with dwindling order books and bankruptcies. In weaker countries, such as Greece, the market has collapsed, having boomed unrealistically for some years. The middle-ranking countries are building at steady levels.Towering over all of them, however, is Germany, Europe's largest construction market. Having avoided the worst excesses of the credit boom while maintaining its manufacturing sector, the country is enjoying a construction bonanza."At the moment, Germans are very optimistic about the future,"
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.