Eurostat: The Low Construction Sector Accelerated Activities

Construction activities in the European Union (EU) fell by more than 2 percent on a monthly basis in January, while their annual growth accelerated, according to a new report from the European statistical office.

Seasonally adjusted production in the construction sector across the 28-member EU decreased by 2.1 percent in January compared to the previous month, following a revised 1 percent growth in December, under pressure from a decline in activities in high construction, estimates published by Eurostat on Monday showed.

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Among the member states for which EUROSTAT had data, the most pronounced monthly decline in construction activities was recorded in France, at 7.6 percent, and by 3.4 percent in the United Kingdom and Sweden. On the other hand, the largest monthly growth was achieved by Slovenia, at 14.4 percent. Poland follows with 8.8 percent, and Hungary with a 6.4 percent increase. No data was published for Croatia, as it does not belong to the group of members required to submit monthly data.

Construction activity in January also weakened in the 19-member eurozone, by 2.2 percent compared to the previous month, when it rose by a revised 0.7 percent, primarily influenced by a decline in the high construction sector.

On an annual basis, activities accelerated, especially in the low construction sector

At the Union level, the growth of construction activities in January accelerated to 2.5 percent on an annual basis, compared to a revised 1.9 percent growth in December, mainly thanks to a jump in the low construction sector of as much as 8.4 percent, following a 1.1 percent growth in the previous month. The largest growth was recorded in Slovenia, at 76 percent, and Hungary, at 43.1 percent. This is followed by the Czech Republic and Poland, with increases of 33.6 and 31.8 percent, respectively.

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A decline in construction activities on an annual basis was recorded only in Spain, at 3.6 percent, and in the United Kingdom, at 3.2 percent.

In the 19-member eurozone, construction activities accelerated even more on an annual basis. In January, they rose by 3.7 percent compared to the same month of the previous year, after a revised 1.4 percent growth in December.