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Eurozone construction production increases in October: official

Xinhua, December 20, 2016 Adjust font size:

Construction production in the eurozone gained momentum in October following September's decline, official data showed Monday.

Seasonally-adjusted production in the construction sector increased by 0.8 percent in the single currency bloc month-on-month, while a decline of 0.8 percent was recorded in September, said Eurostat, the EU's statistics agency.

The wider European Union also witnessed a production increase of 0.4 percent in October, compared to a slump of 0.1 percent in September, according to the agency.

On a yearly basis, construction production increased by 2.2 percent and 1.1 percent in the eurozone and the EU respectively, showing Europe is on track to an economic recovery although at a slow pace.

Construction production in Europe plummeted in the wake of the global financial crisis in 2008 and has struggled to grow since early 2013, according to Eurostat. Endit