Euro-area construction output falls 1.4%

Euro-area construction output falls 1.4%
20 March 2013

Euro-area construction in January 2013 fell 1.4 per cent from the month before as gains in Germany were offset by slumps in Spain and France, according to latest figures by Eurostat.

Euro-area construction output fell the most in four months in January following December’s rise of 0.3 per cent, the European Union’s statistics office in Luxembourg said yesterday. The December figure had earlier been estimated as a 1.7 per cent drop.

France, the euro area’s second-largest economy, showed a four per cent drop in construction over the latest month, while Spain reported a 3.1 per cent decrease. In Germany, Europe’s biggest economy, construction rebounded three per cent in January after a 1.1 per cent drop in the prior month. January output in the Netherlands decreased 2.8 per cent.

On an annual comparative basis, January 2013 figure was down 7.3 per cent YoY.

In the 27-nation EU, construction dropped 1.3 per cent from December, when it declined 0.6 per cent, according to today’s report.

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Tagged Under: Europe Construction Eurostat