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Financial News: Eurozone Construction Output Falls In April

Eurozone Construction Output Falls In April

06/20/2022 - 05:51:00 (RTTNews)

(RTTNews) - Eurozone construction output declined for the first time in four months in April, due to a sharp contraction in the civil engineering sector, data from Eurostat showed on Tuesday.

Construction output dropped 1.1 percent in April, reversing a 0.1 percent increase in March, which was revised from a nil growth seen in the previous estimate.

Civil engineering output logged a fall of 5.5 percent, while production in the building sector rose marginally by 0.1 percent.

On a yearly basis, growth in construction output slowed to 3.0 percent in April from 3.4 percent in March. The rate for March was revised up from 3.3 percent.

Construction output in the EU27 decreased 1.2 percent monthly in April, while it grew 3.0 percent from a year ago.

Among member states, the biggest annual increases in construction output were observed in Italy, Poland and Slovenia, while the worst declines were seen in Romania, Spain and Slovakia.

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