Eurozone construction growth hits 19-month high

(Sharecast News) - Construction output in the eurozone increased by the most in 19 months in November, according to figures out on Monday from Eurostat. Seasonally adjusted production in construction across the single-currency region was 1.2% higher over the month, following a revised 0.8% gain in October. That was the strongest monthly growth seen since February 2023.

Building construction growth slowed to 0.3% from 0.4% over the month, along with civil engineering activity (to 0.5% from 1.8%), but specialised construction activities increased by 1.2% after rising 0.4% the month before.

The highest monthly growth rates were seen in Slovenia (+9.5%) and Slovakia (+5.4%), while the largest decreases were observed in Portugal (-3.9%) and Austria (-0.5%).

Construction output for the eurozone region 1.4% was ahead of where it was in November 2023 - a strong rebound after nine months of annual contraction between February and September and stagnant activity in October.