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Financial News: Eurozone Construction Output Rises In July

Eurozone Construction Output Rises In July

09/19/2022 - 06:22:00 (RTTNews)

(RTTNews) - Eurozone construction output expanded for the first time in five months in July, preliminary data from Eurostat showed on Monday.

Construction output rose 0.3 percent month-over-month in July, reversing a 1.2 percent decrease in June, which was revised from the 1.3 percent fall seen in the previous estimate.

Production in the building sector made a positive contribution of 0.3 percent, while civil engineering activity contracted 0.6 percent, though at a slower rate than a month ago.

On a yearly basis, growth in construction output improved to 1.5 percent in July from 1.3 percent in June. The rate for June was revised up notably from 0.1 percent.

Construction output in the EU27 increased 0.2 percent monthly and by 1.3 percent yearly in July.

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

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