Monthly Decline in Construction Output

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, albeit slightly less severe, with a 0.4% reduction. However, when compared to the same period last year, there's a silver lining as the figures show a modest increase of 0.2% in the euro area and 0.3% in the EU.

Sector-Specific Impacts

The report highlights a significant 2.2% monthly decline in building construction within the Eurozone, making it the hardest-hit sector. Civil engineering and specialized construction activities also faced downturns, albeit less severe, with decreases of 1.3% and 0.1%, respectively. The EU's construction landscape painted a similar picture, with building construction dropping by 1.8%, civil engineering by 0.5%, and specialized construction activities by a marginal 0.2%.