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Financial News: Eurozone Construction Output Grows In May

Eurozone Construction Output Grows In May

07/17/2020 - 07:56:00 (RTTNews)

(RTTNews) - Eurozone construction output grew for the first time in four months in May due to the easing of Covid-19 containment measures by member states, Eurostat reported on Friday.

The construction output increased 27.9 percent month-on-month in May, after an 18.3 percent fall in April.

The growth was driven by a 27.6 percent increase in building construction and a 28.5 percent rise in civil engineering.

Among the member states, the biggest monthly increase was recorded in Italy, 168.0 percent, followed by France with a 118.3 percent rise and Belgium with 28.6 percent growth.

On a year-on-year basis, the construction output fell 11.9 percent in May, following a 31.0 percent fall in the prior month.

In the EU27, construction output increased 21.2 percent monthly, and fell 10.3 percent from the same month a year ago.

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