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Europe construction output falls in June

HOME » NEWS » Europe construction output falls in June
European construction output fell in June, led by declines in Germany, the region's largest economy, and Spain, where a 14-year real estate boom has collapsed.

Construction in the 15-nation euro area declined 0.6 percent from May, when it rose 0.1 percent, less than initially estimated, the European Union's statistics office in Luxembourg said in a statement yesterday. The May figure was revised from a 0.2 percent increase.

Expansion in Europe's construction sector is cooling after mild weather boosted building in the first quarter. The euro-region economy contracted in the second quarter for the first time in almost a decade, and Bilfinger Berger AG, Germany's second-largest construction company, last week said the country's construction market was �still tough.�

German construction fell 2.1 percent in June from May, the statistics office said. Construction in Spain dropped 3.1 percent.

From a year earlier, overall euro-area output fell 2.4 percent in June, the biggest decline since March, yesterday's report showed.

Source: http://www.turkishdailynews.com.tr/