Financial News: Eurozone Construction Output Declines In December

Eurozone Construction Output Declines In December

02/20/2023 - 05:24:00 (RTTNews)

(RTTNews) - Eurozone construction output declined further in December due to falls in both building construction and civil engineering, data from Eurostat revealed on Monday. Construction output dropped 2.5 percent from November, when production was only down 0.1 percent. This was the second consecutive fall in production.

Both civil engineering and building construction declined from the previous month. Civil engineering posted a bigger fall of 4.0 percent after a 0.7 percent gain. At the same time, building construction slid 2.3 percent, following a 0.1 percent drop. On a yearly comparison, total construction output registered a fall of 1.3 percent, in contrast to the 1.6 percent increase in November. Building and civil engineering decreased 1.3 percent and 1.5 percent, respectively.

In the EU27, construction output decreased 2.0 percent on month and fell 0.4 percent from the same period last year.

In 2022, annual average production in construction increased 2.3 percent in the euro area and 2.6 percent in the EU.

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