Eurozone Construction Output Contracts Further

Eurozone construction output declined for the fourth straight month in July, data from Eurostat showed on Thursday.

Construction output dropped 1.3 percent month-over-month in July, after a 0.3 percent decrease in June, which was revised from the 0.4 percent increase seen in the previous estimate.

Civil engineering output logged a negative growth of 1.3 percent, and production in the building sector contracted 1.2 percent.

On a yearly basis, growth in construction output eased sharply to 0.1 percent in June from 2.3 percent in May. The rate for May was revised down from 2.9 percent.

Construction output in the EU27 declined 1.2 percent monthly and by 0.6 percent yearly in June.

Among member states, the biggest annual increases in construction output were observed in Slovenia, Poland, Romania and the Netherlands, while the worst declines were seen in Spain, Hungary and Austria.

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