As with the rest of the economy, the construction sector experienced a significant slowdown at the end of 2018. The two main components, Building and Civil Engineering Works, recorded drops in GDP in the third and fourth quarters.
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Housing demand is already picking up, thanks to increased household confidence, job creation and lower interest rates. The accumulation of housing inventories stabilised, albeit above the historical average. On the other hand, a gradual acceleration of logistics (industry, ports) and educational demand is expected, which wi…