European construction stagnates

Construction in much of Europe is set to stagnate in 2011, the Munich-based Ifo Institute think tank said yesterday. Construction volume in 19 selected European countries will total €1.28 trillion, slightly below 2010’s level. In Ireland and Spain the already precarious situation will worsen, Ifo expects, while there is better news in the east, with construction set to expand in the Czech Republic, Slobakia and Poland.