Financial News: Eurozone Construction Output Rebounds 1.0%

Eurozone Construction Output Rebounds 1.0%

12/18/2024 - 06:18:00 (RTTNews)

(RTTNews) - Eurozone construction production expanded strongly in October after falling in the previous month, data from Eurostat showed on Wednesday.

Construction output rose 1.0 percent monthly after a 0.3 percent fall in September. Further, this was the strongest growth since February 2023.

The rebound in output was mainly driven by the 1.6 percent growth in civil engineering activity, followed by a 0.7 percent rise in the building sector. There was a 0.5 percent gain in specialized construction activities.

On a yearly basis, industrial production recovered 0.2 percent in October, reversing a 2.0 percent fall in September.

Construction output in the EU also rebounded 0.7 percent on month while decreasing 0.8 percent annually.

The largest monthly increases in production in construction were recorded in Austria, Hungary, and Portugal, while the biggest decreases were observed in Romania and Poland.

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