Eurozone construction growth hits 19-month high

Construction output in the eurozone increased by the most in 19 months in November, according to figures out on Monday from Eurostat.
Seasonally adjusted production in construction across the single-currency region was 1.2% higher over the month, following a revised 0.8% gain in October. That was the strongest monthly growth seen since February 2023.
Building construction growth slowed to 0.3% from 0.4% over the month, along with civil engineering activity (to 0.5% from 1.8%), but specialised construction activities increased by 1.2% after rising 0.4% the month before.
The highest monthly growth rates were seen in Slovenia (+9.5%) and Slovakia (+5.4%), while the largest decreases were observed in Portugal (-3.9%) and Austria (-0.5%).
Construction output for the eurozone region 1.4% was ahead of where it was in November 2023 – a strong rebound after nine months of annual contraction between February and September and stagnant activity in October.