Economics in Construction Industry Data Term Paper

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9%

6.2%

6.3%

6.4%

6.4%

6.4%

Source: Kelly, Herring (2012).

Fig 3: France Construction Growth Rate (%)

Source: Kelly and Herring (2012)

Economic theory points out the factors leading to the decline in the construction output in France. Economic theory argues that the changes in demand for construction activities may be due to several economic factors such as changes in Gross National Product, and changes in interest rates. (Finkel, 1997). Akintola and Martin (1994) argue that the level of a national economy is a primary factor that could affect the construction demand in a given economy. Typically, "there is a relationship between construction demand and the growth in GNP, as a measure of the economic well being of a nation.

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" (Akintola, and Martin 1994 P. 9). During the period of economic prosperity, there is a general increase in demand for consumer goods which triggers up the demand for construction activities.

In France, there are construction activities in both private and public sectors. Generally, France enjoyed economic prosperity between 2001 and 2007 making the country to enjoy a significant increase in demand for construction activities during the period. However, with global economic crisis that affects France from 2008, the demand for construction activities declines making many private construction companies to reduce their workers in….....

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