Eurozone Construction Output Falls 0.1%

(RTTNews) - Eurozone construction production contracted slightly in January after rebounding in the previous month, data from Eurostat showed on Thursday.

Construction output dropped 0.1 percent monthly in January, reversing a 0.7 percent increase in December.

The overall downturn was driven by a 4.4 percent decline in the civil engineering sector and a 3.0 percent fall in the building construction activity. On the other hand, specialized construction activities logged a 1.7 percent growth.

On an annual basis, construction output dropped 1.9 percent, in contrast to a 0.7 percent increase in December. Moreover, this was the first decline in one year.

In the EU, construction production fell 0.9 percent monthly and by 2.0 percent yearly in January.

Among member states, the largest monthly decreases in production in construction were recorded in Poland, Hungary, and Slovakia, while increases were observed in Germany, the Netherlands, and Denmark.