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July 26, 2016

Construction activity has dropped in almost all European countries

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The construction in Spain recovers its activity, as evidenced by the positive data from this sector of the economy in May 2016, when it increased by 3.1% annually after falling a month earlier. Thus, Spain adds some optimism in the widespread negative data of construction sector throughout Europe during the fifth month of this year. According to the European statistics agency, Eurostat, civil and residential construction have reduced their activity by 0.8% in the area of ​​the single currency euro, compared to May 2015, while the decline in all countries of the European Union has been even greater, i.e. by -1.1%.

The construction sector in Europe is not currently registered the optimistic data, more precisely during the month of May 2016. The annual figures show a slight decline in both residential and construction of buildings for other purposes. In the EU as a whole, this production fell by 1.1%, while in the euro area by 0.8%, according to data released by the European Statistics Office, Eurostat.

Meanwhile, the major annual declines were recorded in Hungary (-26.6%), Slovenia (-21.2%) and Poland (-13.8%), while Sweden (+ 14.4%), Romania (+ 7.5%), Spain (+ 3.1%) and the Netherlands (+ 2.1%) were the only countries that recorded positive figures in May 2016 in construction activity.

Moreover, Eurostat statistics show that Spain is experiencing an irregular trend during 2016, and that after the beginning of the year with a marked increase by 20.6%, the construction activity in the country was decreasing gradually, and even showed a negative result in April 2016, when the rate fell by 6.1%. At present, that is, according to statistics for May 2016, construction of buildings and residential real estate in Spain returned to positive indicators, i.e., increased by 3.1%.

Among the other countries of the European Union, it is worth noting in particular the development, which Sweden is demonstrating, with double-digit growth of construction activity in recent months. Among the major economies, Germany (-1.6%), the United Kingdom of Great Britain and France (both countries with -3.9%) as well as Italy (-2.6%), all recorded a new fall construction of residential property and other types of buildings.

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