Construction output in the Euro Area jumped by 5.2 percent from a year earlier in February of 2019, recovering from a downwardly revised 0.1 percent decrease in the previous month and well above market expectations of a 2 percent rise. It was the highest gain in construction activity since January of 2018. Civil engineering work (11.9 percent from -0.5 percent in January) rebounded sharply and building activity (3.3 percent from 0.3 percent) advanced faster. On a monthly basis, construction output rose 3 percent, after a 0.8 percent fall in in January. Construction Output in the Euro Area averaged -0.32 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 1.80 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 1.50 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.