Measuring European Construction Output: Problems and possible solutions

Construction industries are often characterised as large or small by reference to the proportion which gross construction output represents of the national economy. While this may be adequate in developed western economies, it is not so helpful in developing economies, or economies in transition, where data on both construction output and the national economy are particularly uncertain. This paper presents available data, discusses evidence of inaccuracy and examines a number of methods for improving the quality and reliability of that data. The paper concludes that this is an important topic and that there are methods of addressing it, including establishing internationally agreed definitions for comparable international values, specifically for construction.