Eurozone construction output up in October

According to the preliminary data from Eurostat, seasonally adjusted production in the construction sector in the eurozone rose by 0.8% in October month on month and by 2.2% on a yearly basis.

According to the data, the monthly increase in October 2016 was mainly due to the rise in building construction (1.3%). The data also shows that Sweden, France and Germany recorded the largest increases by 2.3%, 2.1% and 1.7% respectively in the production in construction while Slovenia, Hungary and Slovakia posted the largest decreases respectively by 6.8%, 3.8% and 3.5% on a monthly basis.

The increase of 2.2% in production in construction in the eurozone on a yearly basis was mainly driven by an increase of 0.2% in civil engineering and 2.7% in building construction, the data reveals. Among the member states, Sweden and the Netherlands recorded the largest increases in production in construction on a yearly basis with 10.1% and 8.2% respectively while Slovakia (22.1%), Poland (18%) and Bulgaria (14%) recorded the largest decreases year on year.