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Lockdown dealt €2bn hit to construction output in 2020 - report

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The initial shutdown of the construction sector for seven weeks during the initial stages of the Covid-19 pandemic knocked €2 billion off construction output last year.

That is according to a report carried out by EY DKM on behalf of the Construction Industry Federation. Analysing official data, the report concluded that the shutdown - which started on March 27 - led to a contraction in the value of construction output of around 7.3% to €24.7 billion.

It estimates that the contraction this year will be of the order of €3 billion. On the housing front alone, that translates into an estimated decline of close to 5,000 housing completions in 2021 bringing the total to 16,000, compared with the total for 2020 of 20,676.

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