Economic Buzz: Eurozone construction output falls 1.7% in May

Eurozone construction output declined at the fastest pace in nearly two-and-a-half years in May after recovering sharply in the previous month, first estimates from Eurostat revealed on Friday.

Production in construction declined 1.7 percent on a monthly basis in May, reversing an upwardly revised 4.3 percent growth in April.

Moreover, this was the quickest downturn since December 2022, when output had fallen 2.2 percent.

Construction of buildings contracted 1.3 percent, and specialized construction activities dropped by 1.7 percent. Data showed that civil engineering activity decreased 0.7 percent.

Year-on-year, the growth in construction output moderated to 2.9 percent from 4.7 percent in April.

Construction output in the EU27 declined 1.3 percent monthly, while it grew 2.7 percent annually in May.

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