Eurozone construction output stable in December

(Sharecast News) - Production in the eurozone construction sector remained stable in December, while rising by 0.4% in the wider European Union, according to preliminary data released by Eurostat on Thursday. That followed growth of 0.6% in the euro area and 0.8% in the EU in November.

On an annual basis, construction output in December fell by 0.1% in the single currency bloc and by 0.8% in the EU compared with the same month in 2023.

For the full year, average production declined by 0.9% in the eurozone, and by 1.3% in the EU relative to 2023.

In December, the euro area saw a 0.1% decline in building construction, while civil engineering activity was unchanged.

Specialised construction activities contracted by 0.2%.

In the EU, building construction and civil engineering both saw increases of 0.6% and 0.7%, respectively, while specialised construction activities fell by 0.1%.

Among member states, the largest monthly increases were seen in Poland, Czechia, and Portugal, where construction output rose by 5.7%, 4.6%, and 3.6%, respectively.

The sharpest declines were meanwhile reported in Bulgaria, down 3.4%; the Netherlands, down 2%; and Italy, off 1.7%.

On a year-on-year basis, construction of buildings in the euro area edged up by 0.1% in December, while civil engineering activity grew by 2%.

Specialised construction activities declined by 1.4%. In the EU, building construction fell by 1.3%, civil engineering increased by 1.1%, and specialised construction activities declined by 1.3%.

The steepest annual contractions in national construction output were registered in Romania, of 12.9%; followed by Poland, down 9.9%; and Austria, which narrowed by 9.3%, while the strongest growth rates were in Spain, up 11.2%; Czechia, which expanded 9.7%; and Slovakia, ahead 5.8%.

Reporting by Josh White for Sharecast.com.