Construction shrinks in Eurozone

■ Production in the Eurozone’s construction sector dipped by 0.3 per cent in July compared to the previous month, data from Brussels’ Eurostat office revealed yesterday. The figure marked the second straight month of decline, after construction dipped by 0.6 per cent in June. Compared to the same time last year, production in the industry was down a considerable 4.7 per cent in July, as the economic effects of the debt crisis continue to be felt. While construction only consists of a relatively small part of the Eurozone’s economic output, the data suggests that the single currency area will struggle to lift itself from recession in the third quarter of the year. The Eurozone economy shrank 0.2 per cent in quarter two.