Construction output in the Euro Area increased 1.2 percent from a year earlier in August 2019, following an upwardly revised 1.8 percent rise in the previous month and below market expectations of a 2.6 percent gain. This is the weakest pace of growth in construction activity since January, as building activity advanced less (1.6 percent vs 1.8 percent in July) while civil engineering works rose at the same pace (at 0.9 percent). Among Eurozone's largest economies, growth slowed in Germany (1.4 percent vs 2.4 percent) and Spain (2.7 percent vs 3.8 percent) while France's output continued to fall (-0.9 percent, the same pace as in July). Construction Output in the Euro Area averaged -0.25 percent from 1996 until 2019, reaching an all time high of 18.40 percent in February of 2000 and a record low of -22.60 percent in February of 1996.
Construction Output in Euro Area is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in Euro Area to stand at 1.90 in 12 months time. In the long-term, the Euro Area Construction Output is projected to trend around 2.20 percent in 2020, according to our econometric models.