International Internet Magazine. Baltic States news & analytics
Monday, 24.04.2017, 10:18
Latvia records EU's sixth biggest drop in construction output in Q4 2016
Poland also registered a 11.8% percent reduction.
Slovakia registered the largest reduction in the fourth quarter of last year - by 17.4%, followed by Romania- 15.4%, Hungary - 14.1%, and Malta - 12.6%.
Construction output in 17 EU member countries was higher than in the fourth quarter of 2015, but in 11 was lower.
The biggest increases were registered in Greece (18.6%), Cyprus (17.9%), Ireland (16.5%) and the Netherlands (9.2%). Construction output in Estonia in the fourth quarter last year was 2.9% higher than in the fourth quarter of 2015, but in Lithuania - by 4.2% higher.
Construction output in the EU increased 1.5% year on year, while the eurozone recorded two percent increase. Quarter on quarter, construction output in the EU rose 0.8% and in the euro area 0.8 %.
Compared to the third quarter of 2016, construction output increased in 23 EU countries, but fell in five in the fourth quarter of last year. Cyprus recorded the steepest rise (5.5%), followed by Lithuania (5%), Estonia (4.2%), Poland (3.2%) and Latvia (2.5%). The biggest reduction were reported by Romania (6.6%), Greece and Italy (by 0.7% in each), as well as in Spain and Portugal (by 0.2% in each).