2017.04.2018:39:00UTC+00Euro Area Construction Growth Accelerates in February

Euro area’s production in the construction sector grew on a month-on-month basis in February. Production was up 6.9 percent, data from Eurostat showed on Thursday. It had dropped 1.5 percent in the previous month. On a year-on-year basis, production in construction rose 7.1 percent in the currency bloc.

The month-on-month rise in construction output was driven by rise in civil engineering and building construction. Civil engineering grew 10.1 percent sequentially, whereas building construction was up 6.2 percent. Amongst the member states, Slovenia, Belgium and Germany recorded the highest increase in production in construction.

Meanwhile, on a year-on-year basis, the production in construction was up 7.1 percent, owing to the rise in civil engineering and building construction. Civil engineering was up 10.3 percent year-on-year, whereas building construction was up 6.2 percent. Slovenia and Germany recorded the highest growth of 21.4 percent and 11.6 percent respectively, whereas Slovakia registered the largest drop of 10.6 percent.