(Sharecast News) – Eurozone construction output nudged higher in July, official data showed on Wednesday, following gains in the bloc’s major economies.
According to Eurostat, the European Union’s statistics office, seasonally-adjusted production in the construction sector rose by 0.8%, reversing much of June’s 1.2% fall.

Across the wider bloc, production rose 0.7% compared to a 1.0% decline in June.

Year-on-year, production increased by 1.0% in the Eurozone in July and by 0.9% across the EU.

Among member states, Germany – the bloc’s biggest economy – saw production in construction rise 2.6%, compared to a 3.1% decline a month earlier.

In Spain it rose 1.2% and in France by 0.6%, following falls of 0.8% and 2.6% respectively a month previously. Italy’s output was not released.

Overall there was an 0.9% uptick in building construction while civil engineering eased 0.4%.

Claus Vistesen, chief Eurozone economist at Pantheon Macroeconomics, said: “Overall, the strong start to the quarter leaves a carry-over – the change in third quarter production was unchanged in August and September – at just over zero, hinting at a better performance that the 1.2% quarter-on-quarter decline in the second quarter.

“Leading indicators, however, are uniformly pointing down, so we look for falling output in both August and September. In total we now think construction output will fall by around 0.5% quarter-on-quarter in the third quarter.”

Related articles

Recruitment slumps on weaker economic backdrop

Recruitment slumps on weaker economic backdrop

(Sharecast News) - Recruitment fell sharply in November, an industry survey showed on Friday, as economic uncertainty saw employers cut back on hiring. According to the latest UK Jobs Report from KMPG and the Recruitment and Employment Confederation, placements of...

FCA sets out new rules to prevent fully cashless society

FCA sets out new rules to prevent fully cashless society

(Sharecast News) - The Financial Conduct Authority (FCA) has declared that certain banks and building societies will still need to hold cash despite the UK's continuing shift to digital payments. The new rules will ensure that the three million consumers who rely on...

UK house prices rise amid property shortage – Halifax

UK house prices rise amid property shortage – Halifax

(Sharecast News) - UK house prices rose for the second month in a row in November, boosted by a shortage of properties, according to figures released by Halifax on Thursday. House prices rose 0.5% on the month following a 1.2% jump in October and after six consecutive...

Latest Articles

Join our mailing list

Subscribe to our mailing list to receive regular updates!