Construction production increases 0.8% in the Euro Zone. Portugal has 3rd biggest increase – Companies

Construction production rose, in January 2024 compared to the same month of 2023, by 0.8% in the euro zone and 0.1% in the European Union (EU), with Portugal having the third biggest increase in the countries for which data is available.

The information was released by the community statistical office, Eurostat, which reports that, in January 2024 compared to January 2023, construction production increased by 0.8% in the single currency area and 0.1% in the EU .

Among the Member States for which data are available, the largest annual increases in construction production were recorded in Hungary (+17.1%), Spain (+15.1%) and Portugal (+3.9%), while the biggest declines were observed in the Netherlands (-15.7%), Romania (-14.7%) and Slovakia (-12.8%).

Still in the annual variation, construction production in the euro zone decreased by 2.4% for building construction, increased by 2.8% for civil engineering and increased by 0.9% for specialized construction activities, while in the EU these percentages were, respectively, -2.9%, +1.8% and +0.7%, this by sector.

On a quarter-on-quarter basis, in January 2024 compared to December 2023, seasonally adjusted production in construction increased by 0.5% in the single currency area and decreased by 1.0% in the EU, according to Eurostat.

Previously, in December 2023, construction production had grown by 0.5% in the euro zone and 1.3% in the EU.

By sector, in this chain variation, construction production in the euro zone decreased by 2.1% for building construction, increased by 1.0% for civil engineering and increased by 0.5% for specialized construction activities, while in the EU these percentages were, respectively, -2.7%, -0.8% and +0.5%.

Among the Member States for which data are available, the largest monthly declines in construction production were recorded in Romania (-34.3%), Poland (-16.5%) and the Netherlands (-9.9%). %), while the biggest increases were recorded in Hungary (+10.2%), Germany (+2.7%) and Sweden (+2.4%).