Eurozone construction output increases in January

Eurozone construction output increased 0.5% in January, according to preliminary reports from Eurostat.

Eurostat said on Wednesday that production in the construction sector grew by 0.8% in the euro area and 0.1% in the European Union.

The Eurozone saw a 2.1% monthly decline in building construction, but recorded a 1% rise in civil engineering, while in the EU, building construction decreased 2.7% month-on-month, while civil engineering fell by 0.8%.

Building construction was down by 2.4% year-on-year in the euro area and 2.9% in the EU, while civil engineering increased by 2.8% and 1.8%, respectively.

The highest annual rises were seen in Hungary and Spain.

Reporting by Iain Gilbert at Sharecast.com