FX.co ★ Eurozone Construction Output Falls For Third Month

Eurozone construction output experienced a downturn for the third consecutive month in May, according to a report released by Eurostat on Thursday.

The output in the construction sector fell by 0.9 percent on a monthly basis in May, following a 0.4 percent decline in April. This marked the third straight month of contraction.

Specialized construction activities and building construction both saw reductions of 1.1 percent and 1.0 percent, respectively. In contrast, civil engineering recorded a milder decrease of 0.6 percent.

On an annual basis, the decline in construction output intensified to 2.4 percent in May from 1.5 percent in April.

Within the EU27, construction output decreased by 1.0 percent month-over-month and by 2.5 percent compared to the same period last year.