Eurozone Construction Output Takes a Hit in February

According to the latest report from Eurostat, the European Commission's statistical office, the Eurozone experienced a 0.5% monthly decline in construction output this February. The European Union wasn't far behind, with a 0.4% decrease in the same period.

Year-over-Year Growth Amidst Monthly Declines

Despite the monthly downturns, the construction sector showed resilience on a year-over-year basis, with the Eurozone and EU witnessing 0.2% and 0.3% growth, respectively, compared to February of the previous year.

Sector-wise Breakdown of the Decline

The report detailed the sector-specific impacts within the Eurozone: Building construction suffered the most significant monthly drop at 2.2%, followed by civil engineering at 1.3%, and specialized construction activities at a slight 0.1%. The EU mirrored this trend, with building construction down by 1.8%, civil engineering by 0.5%, and specialized construction activities by 0.2%.