Eurozone construction edged higher in August

Construction output in the eurozone inched higher in August but remained well below last year's levels, according to figures from Eurostat on Friday.

Production in construction increased by just 0.1% across the single-currency region during the month, following a 0.5% fall in July.

Building construction bounced back 0.9% after a 1.1% fall previously, while specialised construction activities rose 0.3% after declining 0.7% the month before.

However, production in the civil engineering space dropped by 2.1%, with the decrease picking up pace from the 0.5% fall registered in July.

The Netherlands registered the biggest increase in construction production, rising 6.3% over the month, while the biggest declines were seen in Slovakia (-4.3%), Belgium (-3.2%) and Slovenia (-3.1%).

Overall eurozone construction output fell by 2.5% when compared with last August, following a 2.3% year-on-year decline in July and a 1.5% fall in June. This was the seventh straight month of annual declines.