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Financial News: Eurozone Construction Output Falls 0.2%

Eurozone Construction Output Falls 0.2%

06/19/2024 - 06:18:00 (RTTNews)

(RTTNews) - Eurozone construction output decreased for the second straight month in April, largely due to weaker civil engineering projects, data from Eurostat showed on Wednesday.

Construction output dropped 0.2 percent month-on-month in April, following a 0.5 percent fall in March, which was revised from a 0.1 percent growth estimated earlier.

Civil engineering posted a monthly contraction of 1.1 percent, reversing a 0.2 percent rise in the prior month.

Data showed that specialized construction activities fell 0.1 percent, while activity on building construction showed a flat change.

On a yearly basis, production in the construction sector declined at a faster pace of 1.1 percent in April versus a 0.7 percent fall in March, which was revised from a 0.1 percent rise.

Construction output in the EU27 advanced 0.2 percent monthly, while it decreased 0.9 percent annually in April.

Among member states, the worst monthly decreases in construction output were observed in Belgium, Slovenia, and Germany, while the biggest rises were seen in Hungary, Romania, and Slovakia.

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