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Financial News: Eurozone Construction Output Rebounds In September

Eurozone Construction Output Rebounds In September

11/17/2022 - 07:37:00 (RTTNews)

(RTTNews) - Eurozone construction output expanded slightly after falling in the previous month, data from Eurostat showed on Thursday.

Construction output rose 0.1 percent month-over-month in September, reversing a revised 1.0 percent fall in August.

Civil engineering output logged a monthly growth of 0.6 percent, and production in the building sector increased 0.1 percent.

On a yearly basis, growth in construction output eased to 1.0 percent in September from 2.0 percent in the prior month. The rate for August was revised down from 2.3 percent.

Construction output in the EU27 rose 0.2 percent monthly in September, and it grew 1.4 percent from a year ago.

Among member states, the biggest annual increases in construction output were observed in Romania, Slovenia, and Austria, while the worst declines were seen in Spain, Czechia, and Germany.

According to S&P Global's construction PMI survey earlier this month, Eurozone construction companies expressed strong negative sentiment towards the 12-month outlook for activity in October.

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