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10/19, 11:01 AM (Source: TeleTrader)
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Euro area construction output drops 1.3% in August

Seasonally adjusted production in the construction sector in Eurozone decreased by 1.3% on a monthly basis in August, according to a preliminary report published by Eurostat on Tuesday. The figure for the entire European Union dropped 1.8% compared to July.

Building construction in the euro area slid 1.3% on a monthly basis and civil engineering declined by 1.9%.In the EU, building construction lost 2.1%, with civil engineering contracting 1.4%. Among member states, the sharpest monthly drop was recorded in Sweden, where construction output tumbled 10.5%. The highest increase was observed in Portugal, with the gauge indicating a 2.4% expansion.

Compared to August 2020, production in construction dipped 1.6% in the euro area, and 1% in the bloc.

Breaking the News / BU