Euro area construction output edges higher in June
Construction output within the single currency bloc edged higher last month, led by activity in civil engineering.
Total output was higher by 0.2% month-on-month in June, according to Eurostat, with production in the building subsector up by 0.1% and that in civil engineering by 0.3%.
Output in France and Italy rose sharply versus the prior month, jumping by 3.8% and 2.4%, respectively.
In Germany on the other hand, it shrank by 3.2%.
Versus a year ago, construction output was higher by 2.6% and by 2.5% quarter-on-quarter.
"These data point to solid Q2 growth in construction investment, at the expense of a downward revision of the Q1 data. The final GDP report later this month will show whether this is true or not.
"Going by the monthly output data, civil engineering, especially in Germany, rose strongly in Q2, offsetting weakness in residential construction. Assuming a constant year-over-year trend in output and investment, the quarter-on-quarter run-rate will slow in Q3, but rebound in Q4."