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Eurozone Construction Output Down 1.3% in August

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Euro Sign in front of the European Central Bank (ECB) headquarter building in Frankfurt am Main, Germany

Eurozone construction output broke away from five straight months of growth to slide in August.

Source: Eurostat

Euro Stoxx 50 up +0.29%, EUR USD up +0.41%

Eurostat stated that construction industry production dropped by 1.6% year-on-year in the Eurozone and by 1.0% in the EU in August after posting growth of 3.5% in July.

After declining in February, Eurozone construction output expanded on an annual basis for five consecutive months.

Eurozone construction output dropped by 1.3% month-on-month, after a slight 0.1% growth in July.

In August, civil engineering and building reported the highest decreases of 1.9% and 1.3% in the Eurozone. In the EU, building construction dropped by 2.1% and civil engineering by 1.4%.

Annually, the largest decreases reported in production in construction were recorded in Spain (-13.9%), Romania (-7.0%), and Slovenia (-6.8%). The largest increases were reported in Hungary (+10.2%), Poland (+7.9%), and Finland (+4.7%).

 

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