2023.07.1810:15:00UTC+00Italy Construction Output Declines 0.7%

Italy's construction output decreased for the second straight month in May, though at a slower pace than in April, according to the provisional data released by the statistical office Istat on Tuesday.

Construction production fell a seasonally adjusted 0.7 percent month-on-month in May, following a 3.9 percent drop in the previous month.

On a yearly basis, construction output contracted 6.5 percent in May after falling 6.3 percent in the previous month.

On an unadjusted basis, the annual decline in construction production was 6.5 percent versus a 9.5 percent plunge in the prior month.

During the first five months of 2023, total construction production fell 2.8 percent compared to the same period last year.