Construction industry

The construction industry is an important economic sector that provides planning, execution and modification services for buildings. It includes individuals, groups of people and institutions in a society, i.e. those involved in construction, as well as parts of economics, business administration and law.

According to a report by PlanRadar, the construction industry in Austria has slowed down significantly in 2022 and 2023. The reasons for this are sharply rising building material prices, staff shortages and the stagnation of overall economic development. Turnover in the sector has fallen by 9.2 percent compared to the previous year, while orders have fallen by as much as 13.1 percent. However, the decline in orders is not equally pronounced in all sectors of Austrian trade and crafts. Companies in the carpentry, metal technology, bricklaying, tiling and construction sectors have been hit particularly hard.