Annual eurozone construction output climbs at end of year

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Construction output in the eurozone declined in December, but the annual rate of growth still jumped after earlier numbers were revised significantly upwards.

Seasonally-adjusted production slipped 0.2 per cent in the single currency area in December, but the previous month’s growth figure was more than twice as high as previously estimated, at 0.9 per cent.

The bloc’s two biggest economies both disappointed, with monthly declines in both Germany and France.

However, growth elsewhere helped bring the year on year growth rate to 3.2 per cent, from 0.6 per cent in November.

The eurozone-wide figure revealed a wide divergence between individual countries’ performance. The Netherlands and Slovenia enjoyed the biggest 12-month increases in the eurozone, with growth of 10.4 per cent and 9.1 per cent respectively, compared to double digit declines in Hungary, Romania and Slovakia.

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