Eurozone Construction Output Expands 1.2%, Strongest Since Early 2023

(RTTNews) - Eurozone construction production grew at the fastest pace in nearly two years in November, data from Eurostat showed on Monday.

Construction output rose 1.2 percent monthly after a 0.8 percent rebound in October. Further, the latest expansion marked the fastest since February 2023, when production had risen 1.5 percent.

The accelerated growth in output was mainly driven by the 1.2 percent increase in specialized construction activities. Civil engineering activity and construction of buildings advanced by 0.5 percent and 0.3 percent, respectively.

On a yearly basis, industrial production rose 1.4 percent in November, following a flat change in October. It was also the first growth in ten months.

Construction output in the EU grew 1.2 percent monthly and by 0.9 percent annually in November.

The largest monthly increases in production in construction were recorded in Spain, Bulgaria, and Belgium, while the biggest decreases were observed in Romania, Poland, and Slovenia.