Eurozone sees construction shrink in Feb

Josh Martin
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CONSTRUCTION in the Eurozone fell sharply in February, figures showed yesterday, prompting fears that the slight economic recovery on the continent was not yet flowing through to investment in new projects.

The EU’s statistics agency Eurostate said yesterday that construction fell 1.8 per cent from January and 3.7 per cent for the February figure last year.

There is volatility in the sector across the currency zone, with the fall reversing a rise recorded for January, and it also followed a decline of 0.3 per cent in the fourth quarter of 2014.

The figures were worst in Germany, the currency zone’s economic powerhouse, where construction activity contracted 3.1 per cent compared with January and 8.1 per cent compared with February 2014.

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