German inflation surprisingly accelerates in June on recovery in oil prices, likely to slowdown in H2 2020
Euro area construction output falls sequentially in August
Euro area’s construction output dropped in the month of August. On a seasonally adjusted basis, production in the construction sector dropped 0.5 percent, showed the estimates from Eurostat. In the prior month, construction output had dropped 0.2 percent. On a year-on-year basis, the production in construction rose 1.2 percent.
Sequentially, the fall in the headline figure was driven by fall in civil engineering and building construction. Civil engineering recorded a fall of 1.3 percent, whereas building construction saw a fall of 0.2 percent. Among member states, Slovenia recorded the largest fall in production in construction, whereas Portugal saw the highest rises.
On a year-on-year basis, building construction saw a rise of 1.6 percent, whereas civil engineering saw a rise of 0.9 percent. Within member states Slovenia and Slovakia saw the largest decreases in construction output.