Eurozone construction output decreased in August after rebounding in the previous month, data from Eurostat showed on Wednesday.
Construction output dropped 0.6 percent month-over-month in August, reversing a 0.3 percent rise in July.
Civil engineering output logged a negative growth of 1.4 percent, and production in the building sector contracted 0.4 percent.
On a yearly basis, growth in construction output accelerated slightly to 2.3 percent in August from 2.1 percent in the prior month. The rate for July was revised up from 1.5 percent.
Construction output in the EU27 declined 0.4 percent monthly in August, while it grew 2.8 percent from a year ago.
Among member states, the biggest annual increases in construction output were observed in Slovenia, Romania and Austria, while the worst declines were seen in Spain, the Netherlands, and Czechia .
According to S&P Global’s construction PMI survey earlier this month, Eurozone construction companies were increasingly pessimistic about the year ahead.
Due to the growing recession risk in the wider economy, companies were at their most downbeat since the first COVID-19 lockdown in April 2020, the survey showed.
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