Eurozone Construction Output Declines in February

According to the latest report from Eurostat, the European Commission's statistical office, the Eurozone experienced a 0.5% decrease in construction output in February. This downturn was mirrored across the European Union, which saw a 0.4% drop in the same period.

Year-on-Year Growth Despite Monthly Decline

Despite the monthly decline, when compared to February of the previous year, the Eurozone's construction output actually increased by 0.2%, with the EU seeing a 0.3% rise.

Sector-Specific Performance

The report highlighted significant variations across different sectors within the Eurozone. The most pronounced monthly decrease was in building construction, which fell by 2.2%, followed by civil engineering at 1.3%, and specialized construction activities at 0.1%. Similar trends were observed in the EU, with building construction dropping by 1.8%, civil engineering by 0.5%, and specialized construction activities by 0.2%.