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The European was much weaker at the end of 2019 than many believed. Eurozone December construction output -3.1% vs prior +0.7% m/m and -3.7% y/y from the prior +1.4%. Significantly this is before the Coronavirus outbreak.

EU construction

Eurozone December construction output

  • -3.1% vs Prior +0.7% -3.7% y/y
  • Prior +1.4% Latest data
  • -4.6% in building v +1.2% in November
  • +0.9% v +1.8% prior in civil engineering

Eurozone's largest economies construction output

  • Germany (-4.2 percent),
  • France (-4.2 percent)
  • Spain (-6.2 percent).
  • For all 2019 production in construction rose 1.8 percent, above 1.6 percent in 2018.

Released by Eurostat - 19 February 2020

Largest European Construction Companies By Market Cap

Largest European Construction Companies 2018

Released June 2019

While not unexpected given the Q4 GDP release from last week they underscore how slow thinkgs are, with Brexit headwinds and now Coronavirus ahead. 

This was the biggest annual decline since January of 2017.

EUR/USD continues to weaken towards 1.0800.

The construction sector is the EU’s largest industrial employer with a total direct workforce of 18 million people and it contributes at around 9% to the GDP of the European Union.

From The TRadersCommunity News Desk

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