Production in construction down 3.5% y/y in the euro area in December 2014

The latest estimates from Eurostat indicate that average production in construction for 2014 was 2% higher in the euro area than in 2013 and 3% higher in the EU28.

In December 2014 alone, seasonally adjusted production in construction fell by 3.5% in the euro area when compared to December 2013, and declined by 0.5% in the EU28. In the euro area, this contraction has been attributed to a 4.7% drop in building construction, although civil engineering did increase by 1.4%. Meanwhile, in the EU28, building construction dropped 1.6% y/y in December and civil engineering grew by 3.8% y/y.

Among member states for which data is available, the greatest rises in production in construction were seen in Romania (+15%), Sweden (+9.4%), Poland (+4.8%), Slovenia (+4.6%) and the UK (+4.7%). The largest decreases were reported in Slovakia (-9.8%), the Czech Republic (-7.8%), Italy (-5.2%) and Germany (-4.7%). 

When compared to November 2014, seasonally adjusted construction in production declined by 0.8% in the euro area, with building construction down 1% m/m and civil engineering up 1.7% m/m. In the EU28, construction in production fell 0.5% m/m, with building construction contracting by 0.9% compared to November and civil engineering rising by 2.6% m/m.

Among member states, the biggest losses in terms of production in construction when compared to November 2014, were experienced in Hungary (-6.5%), the Czech Republic (-3.3%) and Germany (-2.9%). The highest growth rates occurred in Romania (+7.2%), Italy (+2.3%) and Poland (+1%).

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/europe-cis/19022015/eurostat-releases-construction-in-production-estimates-for-december-2014-372/