Eurozone construction output contracts are recent surge

(Sharecast News) - Construction output across the eurozone slumped in May following the biggest monthly surge in four years in April, according to data from Eurostat on Friday. Seasonally adjusted production in construction fell by 1.7% in May, with building construction down 1.3%, civil engineering production down 0.7% and specialised construction activities dropping 1.7%.

That followed a 4.3% jump in overall construction output in April - the highest growth rate seen since March 2021 - following contractions in activity over February and March.

The largest monthly falls in production were recorded in Germany (-3.9%), Belgium (-2.2%) and the Netherlands (-1.8%), while the strongest growth rates were seen in Slovenia (+5.4%) and Finland (+0.9%).

Compared with last May, output of construction across the eurozone was up 2.9%, slowing from the 4.7% annual jump recorded the month before.