Construction production grew in January and Portugal has the 3rd biggest increase

A information was released today 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%).

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