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Eurozone Construction Output Continues To Fall

Construction output in the euro area decreased for the third month in a row in February, data released by statistical office Eurostat showed Wednesday.

Construction output decreased a seasonally adjusted 7.1 percent on a monthly basis in February, sharply faster than the 0.5 percent growth seen in January. Output dropped for the third consecutive month.

In the European Union, production declined at a slower rate of 3.7 percent in February than the previous month's 3.9 percent fall.

Construction output in Germany plunged 17.1 percent month-on-month, while output in France edged down 0.4 percent. There was a 9.9 percent monthly fall in construction output in Italy during the month.

On an annual basis, construction output fell 12.9 percent in February, following the previous month's 2.7 percent decrease. In EU27, output dropped 9.4 percent year-on-year during the month, while in January it decreased 1.1 percent.

by RTTNews Staff Writer

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