Euro Area Construction Output Shows Bigger-than-Expected Drop In July

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A report released by Eurostat showed that construction output declined by a bigger than expected 2% in July compared with the previous month. Economists had estimated a more modest 1.1% drop for the month. In June the output was down 0.3%.

At the same time, the EU27 nations experienced a 1.1% decline in construction output in July compared to a 0.8% decline in June.

On an annual basis, the output of the construction sector fell 10.8% for the euro area and declined by a steeper 11.1% for the EU27 nations.

A report released by Eurostat showed that construction output declined by a bigger than expected 2% in July compared with the previous month. Economists had estimated a more modest 1.1% drop for the month. In June the output was down 0.3%. (Market News Provided by RTTNews)