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Financial News: Eurozone Construction Output Logs Marginal Expansion

Eurozone Construction Output Logs Marginal Expansion

05/21/2024 - 06:27:00 (RTTNews)

(RTTNews) - Eurozone construction output increased for the fourth straight month in March, though at a slower pace amid lower building construction projects, data from Eurostat showed on Tuesday.

Construction output rose 0.1 percent month-on-month in March, following a 0.4 percent gain in February.

Civil engineering posted a monthly expansion of 0.6 percent, though the rate of growth eased considerably from 3.5 percent in February.

Data showed that specialized construction grew by 0.6 percent, while activity on building construction contracted by 1.5 percent.

On a yearly basis, production in the construction sector rebounded 0.1 percent in March versus a 1.8 percent decline a month ago.

Construction output in the EU27 dropped 0.1 percent monthly and by 0.7 percent annually in March.

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

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