Eurozone Construction Output Decline Slows Slightly

Eurozone's construction output declined at a slower pace in April, but the decline was still sharp, and output levels hit their record lows, as the lockdown restrictions imposed to slow the spread of the coronavirus, or Covid-19, hurt activity, preliminary data from the statistical office Eurostat showed on Wednesday.

Construction output decreased 14.6 percent month-on-month in April after a 15.7 percent fall in the previous month.

Building construction shrank 15.4 percent after a 15.5 percent drop in March. Civil engineering works declined 10.0 percent, which was slower than the 17.4 percent fall in the previous month.

In the EU, construction output decreased 11.7 percent monthly after a 13.6 percent decline in March. Building construction dropped 12.2 percent and civil engineering fell 8.9 percent.

In April 2020, the COVID-19 containment measures widely introduced by Member States continued to have a significant impact on production in construction, Eurostat said.

Overall, production in construction in the euro area and EU has fallen to the lowest level recorded since the start of the series in 1995, the agency added.

Among member states, the biggest monthly declines were logged in France, down 32.6 percent, Spain with a 26.3 percent fall and Slovakia with a 10 percent decline.

On a year-on-year basis, construction output fell 28.4 percent in April after a 17.5 percent drop in March. Building construction plummeted 29.3 percent and civil engineering fell 24.5 percent.

In the EU, construction shrank 24 percent annually in April with the building construction falling 24.6 percent and civil engineering declining 21.4 percent.

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