February 2012 | Steel Tracker
Construction in Europe under pressure: International Long Product Market Analysis
Construction accounted for 37% of steel consumption in Europe before the financial crisis.
With all the headlines covering the cause of the economic downturn, much of the focus has been on the banking sector and the fallout being experienced in the financial sector.
While the importance of these issues is paramount in ensuring safeguards are developed so something like this never happens again, the implications to the construction industry in Europe have been overlooked.
After the financial crisis hit a few years ago credit availability tightened, one of the first industries to be affected was construction. Construction is very much a barometer for the health of the European economy and if the market for construction is shrinking, the European economy will come under more pressure.
Construction accounted for 37% of steel consumption in Europe before the financial crisis, but sluggish demand as funding dries...
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