Eurozone construction jumps in November

Chris Papadopoullos
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The steepest rise was in Slovenia (Source: Getty)

Construction in the Eurozone jumped 0.8 per cent in November compared with the month, adding to the evidence that the economy of the currency-bloc is picking up speed.

Compared with the same month last year, construction was up 2.1 per cent, the figures released this morning by Eurostat, the statistical office of the EU, show.

While output in government-back projects declined by 0.5 per cent over the last year, private sector building rose 2.7 per cent.

Building rose in Germany, Italy and Spain, but declined in France.

The biggest gain was in Slovakia at 16.9 per cent while the second largest increase was in Slovenia at 6.1 per cent. Portugal suffered the sharpest annual decline at 4.5 per cent.

The steep rise in construction activity follows improved levels of confidence among Eurozone businesses and consumers, adding to evidence that the economy is picking up some momentum after growing at a moderate rate last year.

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