Declining Spanish construction only topped by Italy and Slovakia

Friday, June 22, 2012. Ivan Radford @themovechannel

Only Italy and Slovakia have suffered more severe drops in construction than Spain, according to new figures.

Only Italy and Slovakia have suffered more severe drops in construction than Spain, according to new figures.

March may have posted positive growth for the euro area, but overall production in the EU construction sector fell by 6.6 in April reported European Statistics Office Eurostat this week: an annual drop of five per cent.

Spain saw one of the worst declines, with construction activity falling by 14.6 per cent compared to 2011. Indeed, the only two property markets to see a bigger drop were Italy and Slovakia.

The largest increases in construction occurred in Romania and France, where activity grew by 11.5 per cent and 2.3 per cent respectively. UK saw activity drop by 18.1 per cent.

Source: El Mundo


Author - Dan Johnson

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