Euro output rebounds in March

Euro output rebounds in March
22 May 2012

Euro-construction output rose in March at the fastest rate in at least a decade, rebounding after severe winter conditions in February.

Construction output in the 17 nations that use the euro jumped 12.4 per cent in March from February, the first rise since November and the biggest since records began in 2001, the region's statistics agency Eurostat said.

Large rises in construction activity in the region’s largest economies were behind March's increase, with German construction in particular rising 30.7 per cent. Activity in France rose 17.8 per cent and in Italy, 9.5 per cent.

In annual terms, construction across the euro zone was down 3.8 per cent, underlying the sector's weakness as economies in the region struggle and governments slash spending on public contracts.

March's month-to-month rebound came after a 10.4 per cent fall in February, revised from a previously reported 7.1 per cent drop, Eurostat said.

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Tagged Under: Europe Construction Eurostat