February 2024, when compared to its previous month, saw a seasonally adjusted production within construction surge by 1.8% across the Euro zone as well as the EU, as per the first estimates coming in from Eurostat, which happens to be the statistical office of the European Union. Apparently, in January 2024, construction production surged by 0.2% within the euro area and dipped by 1.2% across the EU.
When we take into consideration YoY data, February 2024 saw a dip of 0.4% in construction production as compared to February 2023 across the EU.
Comparative classification in terms of months – By construction sector & member state
As per Eurostat, when we talk of the euro area in February 2024 vis-Ã -vis January 2024 the construction production went on increase by 3.5% when it came to building construction. As far as civil engineering is concerned, one witnessed a surge of 4.1%. Specialized construction activities, however, saw a much lesser increase compared to the two, with 1.7% to be exact.
As far as the EU was concerned, construction production witnessed an increase of 3.4% in the construction of buildings. Production in construction saw a rise of 3.6% in terms of civil engineering and a meager 1.3% as far as specialized construction activities were concerned.
When we refer to the member states for which the data happens to be available, the highest monthly rise in terms of construction production was seen in Austria with 9.3%, with Germany coming in second at 7.9% and Slovenia standing in the third position at 6.3%.
Apparently, the largest of the dips were witnessed in Hungary, France, and Sweden at -8.5%, -2.1% and -0.9%, respectively.
Comparative classification in terms of year – By construction sector & member state
According to Eurostat, when we compare the Euro area in February 2024 to the same month the previous year, the production in construction saw a dip of 2.5% in terms of the construction of buildings. There was an increase in civil engineering by 4.9%, which was pretty impressive. However, specialized construction activities saw a meager decrease of 0.1%.
In the EU, construction production declined by 2.8% when it came to the construction of buildings; however, it saw a surge of 4.2% in the civil engineering gamut. But specialized construction activities witnessed a dip of 0.5%.
In the case of the member states, the highest yearly dip in terms of construction production was recorded in the Netherlands with -12.9%. Finland came in second with -6.9%, whereas Austria stood at -5.9%. Besides this, the increases that were at their highest point were seen in Spain at 8.3%, Portugal at 4.4%, and Czechia at 3.7%.
