FX.co ★ Italy Construction Output Growth Slows Further

Italy's construction output growth eased for the second straight month in May, though it remained strong overall, data from the statistical office ISTAT showed on Wednesday.

The construction output expanded a calendar-adjusted 16.9 percent year-over-year in May, following a 17.3 percent gain in the previous month. Output has been rising since September last year.

On a monthly basis, construction output dropped marginally by 0.1 percent in May, after a 1.1 percent decline in April. This was the second successive monthly fall.

During the first five months of this year, total construction output grew a calendar-adjusted 18.7 percent compared to the corresponding period last year.