Eurozone construction production increases in October — official
BRUSSELS, Dec. 20 (PNA/Xinhua) — Construction production in the eurozone gained momentum in October following September’s decline, official data showed Monday.
Seasonally-adjusted production in the construction sector increased by 0.8 percent in the single currency bloc month-on-month, while a decline of 0.8 percent was recorded in September, said Eurostat, the EU’s statistics agency.
The wider European Union also witnessed a production increase of 0.4 percent in October, compared to a slump of 0.1 percent in September, according to the agency.
On a yearly basis, construction production increased by 2.2 percent and 1.1 percent in the eurozone and the EU respectively, showing Europe is on track to an economic recovery although at a slow pace.
Construction production in Europe plummeted in the wake of the global financial crisis in 2008 and has struggled to grow since early 2013, according to Eurostat. (PNA/Xinhua)