Euro area construction output drops sequentially in March, rises year-on-year

The seasonally adjusted production in the euro area construction sector dropped in March on a sequential basis. The construction output fell 1.1 percent, showed the first estimate from Eurostat. On a year-on-year basis, the production in construction rose 3.6 percent in the currency bloc.

The sequential decline in March was mainly driven by drop in building construction that recorded a decline of 1.7 percent. Meanwhile, civil engineering was up 1.1 percent sequentially. Within the member states, the largest decreases were recorded in France and Portugal, whereas the highest rises were seen in Slovenia and Slovakia.

Meanwhile, the year-on-year rise of 3.6 percent in construction output was driven by rises recorded in civil engineering and building construction. Building construction saw a growth of 2.7 percent, while civil engineering rose 6.8 percent. Slovenia saw the biggest rise in the month, recorded a growth of 41.5 percent, whereas Spain saw the biggest decrease, dropping 5 percent year-on-year.