A stark contrast is being seen across Western Europe, as Spain experiences increasing confidence and Italy suffers staggering rises in inflation.
Throughout Europe, the impacts of elevated energy pricing have continued, with materials supply times remaining problematic as factories reduce their production hours in response to unsustainable energy costs. It is now common practice for contractors to insist on price escalation clauses in their contracts.
But does a glimmer of hope lie ahead?
Forecasts indicate a recovery starting in 1Q 2023 and prices are expected to stabilise once the new year begins. Whilst challenges such as materials and equipment shortages remain, respondents to the EU monthly survey revealed this was a declining concern in 3Q.
Our Autumn market reports from France, Italy, Spain, Portugal and Germany show what’s on the horizon for Western Europe beyond 2022.