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Construction outlays fall in Europe

June 19, 2012 at 10:50 AM   |   Comments

BRUSSELS, June 19 (UPI) -- Construction spending fell sharply in Europe in April, the European Union's statistical office Eurostat said Tuesday.

Spending declined 2.7 percent compared to March in the 17-member eurozone and 6.6 percent in the 27-member European Union, the data office said.

Compared to April 2011, spending fell 5 percent in the eurozone and 5.1 percent in the EU, Eurostat said.

Construction outlays fell furthest in Britain -- down 18.1 percent. Spending also fell 9.3 percent in Slovenia, 6.7 percent in Portugal and 6 percent in Germany.

On a month-to-month basis, construction spending rose the most in Romania with spending up 11.5 percent and France, where construction spending rose 2.3 percent compared to March.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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