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Financial News: Eurozone Construction Output Grows 0.5%

Eurozone Construction Output Grows 0.5%

03/20/2024 - 07:24:00 (RTTNews)

(RTTNews) - Eurozone construction output expanded for the second straight month in January, and at a steady pace, data from Eurostat showed on Wednesday.

Construction output advanced 0.5 percent month-on-month in January, the same rate of increase as in December.

Civil engineering activity expanded by 1.0 percent, and specialised construction activities showed an increase of 0.5 percent. On the other hand, building construction declined by 2.1 percent.

Year-on-year, total construction output advanced 0.8 percent, though slower than the 2.8 percent growth in the prior month.

Data showed that construction output in the EU27 fell 1.0 percent over the month, while the annual growth rate eased markedly from 3.6 percent to 0.1 percent.

Among EU member states, the biggest monthly decreases in construction output were registered in Romania, Poland, and the Netherlands, while the largest increases were in Hungary, Germany, and Sweden.

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