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7/17/2019, 11:00 AM (Source: TeleTrader)
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Euro area construction down by 0.3% in May

Seasonally adjusted production in both the entire European Union's and in the Eurozone's construction sector declined by 0.3% in May compared to the month before that when it fell by 1.7% in the Eurozone and 1.3% in the EU, Eurostat said on Wednesday. Annually, construction production was up by 2% in the euro area and 2.5% in all 28 members of the EU.

On a monthly basis, in the euro area, civil engineering declined by 0.8% and building construction fell by 0.3%. Meanwhile, in the whole EU, building construction was 0.2% lower in May compared to April while civil engineering decreased by 0.5% in the same period. Compared to May 2018, civil engineering in the Eurozone was up by 2.3% and building construction gained 2% in May this year. In the entire EU, civil engineering jumped 4.7% since last May and building construction was up by 2%

Construction production in Romania and Finland decreased the most in May month-on-month, falling 7.6% and 3.1%, respectively. Year on year, the biggest increases in production in construction were recorded in Hungary and Romania as the figures jumped 26.2% and 23.8%, respectively.

Breaking the News / VP