Eurozone, EU Construction Output Contract in December

Source: Eurostat

The eurozone construction output contracted for the second straight month in December, while production in the European Union declined for the first time in four months. EZU is up 0.90% premarket.

• Eurozone total construction in December declined by 4.0%, following the 0.2% drop in November. Building construction fell by 4.5%, and civil engineering works by 1.9%.
• European Union’s construction contracted by 3.1%, after the 0.1% growth in November. Building construction dropped by 3.6%, and civil engineering works by 1.3%.
• Compared with the same month in the previous year, eurozone construction fell by 3.9% and EU construction by 1.8%.
• Annual average production grew by 5.2% in the euro area and 4.8% in the EU.
• The most significant annual decreases in production were recorded in Germany, Slovenia, and Austria, while the highest jumps were in Hungary, Italy, and Sweden.