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Construction spending declined in Europe, report for November says

Jan. 17, 2014 at 10:03 AM   |   Comments

BRUSSELS, Jan. 17 (UPI) -- Construction production dropped in the eurozone and European Union for the third consecutive month in November, Eurostat said Friday.

The data office for the European Commission said production in construction fell 0.6 percent month-to-month in the eurozone and 1.1 percent in the EU.

In the 18-nation eurozone currency region, outlays were down 1.7 percent from November 2012. In the 28-member EU, construction spending dropped 1.6 percent from a year earlier.

Information was available from 15 countries. Among those, seven reported declining construction spending and eight reported gains.

The largest declines were in the Czech Republic where spending fell 5.6 percent month-to-month, followed by Romania and Britain with declines of 4.9 percent and 4 percent, respectively. In Hungary, construction outlays dropped 3 percent, Eurostat said.

The highest gains were posted by Slovenia, where spending rose 9.6 percent month-to-month. In Poland, spending was up 3.9 percent from October.

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