Construction output in EU decreases 0.1 percent in June
Date
8/21/2024 8:45:15 AM
(MENAFN) In June, construction production within the European Union experienced a slight decline of 0.1 percent year-on-year, as reported by Eurostat on Tuesday. In contrast, the euro area, which encompasses countries using the euro, saw a modest increase of 1 percent in construction production compared to the same month in the previous year. This divergence highlights a mixed performance across the region's construction sector.
Month-on-month comparisons for June indicate a more positive trend. Within the euro area, construction production rose by 1.7 percent, while the EU overall saw a 1.4 percent increase. The breakdown of these figures reveals that civil engineering activity in the EU grew by 1.5 percent, whereas construction of buildings declined by 1 percent and specialized construction activities fell by 0.3 percent.
On a national level, significant variations are evident. Slovenia experienced the most substantial annual decrease in construction production, plummeting by 19 percent. This was followed by Czechia with a 10.2 percent drop and Sweden with a 9 percent decline. Conversely, Spain reported the highest annual growth in construction production at 4.8 percent, with Bulgaria and Portugal also showing increases of 2.9 percent and 2.7 percent, respectively.
In the euro area specifically, civil engineering saw a notable increase of 3.5 percent, the construction of buildings grew by 1.5 percent, and specialized construction activities improved by 0.4 percent. These figures underscore the more robust performance in the eurozone compared to the broader EU27, which includes both euro and non-euro member states.
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