The U.K.’s Brexit vote last June, which called for it to exit membership in the European Union, is among factors that lowered midterm expectations for the region’s construction market, says a November report from the Euroconstruct forecasters from 19 European countries.
The prospect of an infrastructure-focused, business-friendly administration in Washington, D.C., may bode well for the construction industry, analysts say, but opinions are mixed as to whether it will lift sales of equipment out of a two-year-long slump.
Over the past two years, construction industry executives have observed that, after the 2007-10 recession, the market’s long recovery seemed to be running out of steam.