According to the report from the Eurostat, in November construction output increased by 0.5% per annum after an increase by 3.6% per annum in October (revised from +4.4%). Economists had expected an increase by 3.6% per annum.
Meanwhile, on a monthly basis, construction output decreased by 0.2% in November after an increase by 0.6% in October.
The data also showed that compared to October 2021, the construction of buildings fell by 0.7%, while civil construction increased by 1.0%.
Eurostat reported that the growth in annual terms was associated with an increase in civil construction (+0,7%) and building construction (+0,3%).
Among Member States for which data are available, the highest annual increase in construction output was observed in Poland (+12,7%), Hungary (+12,3%) and Finland (+8,4%). The largest decrease was recorded in Slovenia (-17.3%), Belgium (-8.8%) and Spain (-5.6%).