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Fall in construction in June compared to May in the EU

Fall in construction in June compared to May in the EU

19.08.2022

At 1.3% in the euro area and 1.2% in the EU, seasonally adjusted output in the construction sector fell in June 2022 compared to May, according to first estimates released by Eurostat, the statistical office of the European Union.

In May 2022, the volume of construction in the eurozone fell by 0.3%, while in the EU it grew by 0.1% compared to April.

According to the same estimates, compared to June 2021, construction production increased marginally by 0.1% in the euro area and by 0.6% in the EU.

The estimates do not include data for Cyprus, as it is one of the countries that is not required to provide data on a monthly basis.

Sectorally, in the eurozone, civil construction output fell 1.3% and building construction fell 1.2% in June from May.

In the wider EU, over the same period, civil engineering projects fell by 1.4% and building construction by 1.2%.

The largest monthly declines in construction among Member States for which data were available were in Hungary (down 5.2%), Slovakia (down 5.0%) and Austria (down 4.8%).

On the contrary, production growth was registered in Slovenia (up 1.7%), the Netherlands (up 1.0%) and Finland (up 0.2%).

Compared to June last year, building construction in the eurozone is up 0.1% this year, while civil engineering projects are down 0.2%.

In the wider EU, construction increased by 0.8% over the same period, while civil engineering increased by 0.1%.

The largest annual growth in construction among Member States for which data were available was registered in Slovenia (27.2% increase), Poland and Romania (both 5.9%) and the Netherlands (4.7% increase) .

The largest decline in the construction sector was recorded in Spain (down 10.4%), Hungary (down 8.1%) and Austria (down 6.8%).

Source and photo: inbusinessnews.reporter.com.cy, Editor estateofcyprus.com

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