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Financial News: Eurozone Construction Output Declines In January

Eurozone Construction Output Declines In January

03/19/2018 - 06:37:00 (RTTNews)

(RTTNews) - Eurozone construction output decreased for the first time in seven months in January, data from Eurostat showed Monday.

Construction output fell a seasonally adjusted 2.2 percent month-over-month in January, reversing a 0.7 percent rise in December, which was revised up from a 0.1 percent increase reported earlier.

Moreover, this was the biggest decline since January 2017, when output had fallen 3.4 percent.

Building activity contracted 3.1 percent over the month and civil engineering activity slid by 0.9 percent.

On a yearly basis, construction output growth accelerated to 3.7 percent in January from 1.4 percent in the prior month, revised up from 0.5 percent.

In the EU28, construction output dropped 2.1 percent monthly in January, while it expanded 2.5 percent from a year ago.

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