Eurozone construction edged higher in August

(Sharecast News) - Construction output in the eurozone inched higher in August but remained well below last year's levels, according to figures from Eurostat on Friday.

Production in construction increased by just 0.1% across the single-currency region during the month, following a 0.5% fall in July.

Building construction bounced back 0.9% after a 1.1% fall previously, while specialised construction activities rose 0.3% after declining 0.7% the month before.

However, production in the civil engineering space dropped by 2.1%, with the decrease picking up pace from the 0.5% fall registered in July.

The Netherlands registered the biggest increase in construction production, rising 6.3% over the month, while the biggest declines were seen in Slovakia (-4.3%), Belgium (-3.2%) and Slovenia (-3.1%).

Overall eurozone construction output fell by 2.5% when compared with last August, following a 2.3% year-on-year decline in July and a 1.5% fall in June. This was the seventh straight month of annual declines.