FX.co ★ Eurozone Construction Output Expands 1.2%, Strongest Since Early 2023

Eurozone construction production experienced its most significant growth in nearly two years this November, according to Eurostat's latest figures released on Monday.

In November, construction output increased by 1.2% from the previous month, building on a 0.8% rise in October. This recent growth rate is the fastest since February 2023, when production saw a 1.5% increase.

The surge in output was primarily fueled by a 1.2% rise in specialized construction activities. Civil engineering and building construction also contributed with advancements of 0.5% and 0.3% respectively.

Comparatively, on an annual basis, industrial production saw a 1.4% increase in November, following a stagnant October, marking the first growth in ten months.

In November, construction output across the European Union showed a 1.2% monthly increase and a 0.9% rise year-on-year.

Spain, Bulgaria, and Belgium recorded the highest monthly gains in construction production, while Romania, Poland, and Slovenia registered the most significant declines.