Eurozone Construction Posts Slight Rebound, EU Remains in Negative Territory

Source: Eurostat

Construction output growth in the Eurozone posted a slight rebound in July, while the European Union’s print remained in negative territory for the third straight month. EURUSD is down 0.05%.

• Total construction in the Euro area grew by 0.1% in July, up from -0.6% in June. This follows three consecutive months of contraction.
• When compared with the same month last year, construction output gained 3.3% with building construction up 3.8% and civil engineering 0.8% higher.
• Building construction grew by 0.4%, but this was partly offset by civil engineering which fell by 1.7%.
• The EU construction output declined by 0.1%, which compares with -0.4% the previous month. Building construction gained 0.3%, while civil engineering fell 1.8%.
• Year-on-year total EU construction rose by 3.8%, as building construction advanced 4.7% and civil engineering by 0.8%.
• The largest monthly declines were in production in construction activities in Slovenia, Romania, and Austria. The biggest gains were in France, Sweden, and Germany.