Construction output in the Euro Area fell by 0.7 percent from a year earlier in January 2019, following an upwardly revised 2.1 percent gain in the previous month and well below market expectations of a 2.1 percent rise. It was the first decline in construction output since January 2017, as both civil engineering work (-1.5 percent from 4.9 percent in December) and building activity (-0.1 percent from 1.3 percent) dropped. On a monthly basis, construction output went down 1.4 percent, after increasing 1.1 percent in in the prior month. Construction Output in the Euro Area averaged -0.34 percent from 1996 until 2019, reaching an all time high of 18.40 percent in February of 2000 and a record low of -22.60 percent in February of 1996.
Construction Output in Euro Area is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in Euro Area to stand at 1.70 in 12 months time. In the long-term, the Euro Area Construction Output is projected to trend around 2.20 percent in 2020, according to our econometric models.