Euro-zone construction output fell in April, the latest indication
that the currency area's economy will struggle to grow in the second
quarter, having stagnated in the first.
Construction output in the 17 nations that use the euro dropped 2.7%
from March, and 5.0% from April 2011, the European Union's official
statistics agency Eurostat said Tuesday.
Figures released last week showed industrial production in the euro
zone fell by 0.8% in April, and more recent surveys indicate that
economic activity continued to decline in May as the currency area's
fiscal crisis saps confidence, and austerity programs crimp demand.
Eurostat also lowered its estimate for the growth of construction
output in March, to 11.4% from 12.4%.
The decline in construction during April was widespread across the
currency area, with building work down 6.0% in Germany, 2.3% in Spain
and 4.4% in Italy. Among the euro zone's larger economies, only France
posted a significant increase, of 2.3%.
Write to Paul Hannon at paul.hannon@dowjones.com
(END) Dow Jones Newswires
June 19, 2012 05:45 ET (09:45 GMT)
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