Euroconstruct, a group of 19 European construction research institutes, raised the expected investment in construction in its 19 member countries by 2.6% to almost EUR 1.3 billion in 2006. In the next 2 years, the association believes the growth rate will slow down to 1.7% and 1.8%, respectively. Developments in the Euroconstruct region would continue to be led by Germany, the UK, Italy, France and Spain, which together account for 72% of construction activities. Although Poland, the Czech Republic, Slovakia and Hungary accounted for 4% of the investment in 2005, these four central European countries were expected to show the strongest growth in investment. The residential construction sector accounted for 48% of the total construction activity in 2005. This share was 50% in Western Europe (notably 66% in Ireland and 58% in Germany) and 25% in East Europe. (Source: ITTOs Tropical Timber Market Report)