EU construction output declines in March. New data from Eurostat, the statistical office of the European Union, reveals that the production in the construction sector experienced a decline in March 2023.
The declines appeared when compared to both the preceding month and the corresponding period in the previous year.
During March 2023, the seasonally adjusted output in the construction sector witnessed a decrease of 2.4% in the euro area, while in the EU, the decline stood at 1.9%.
This decline follows a positive trend observed in February 2023, where construction production had seen a rise of 1.7% in the euro area and 1.4% in the EU.
When comparing the figures from March 2023 to the same month in the previous year, the data indicates a decrease in production.
Specifically, the output in the construction sector witnessed a decline of 1.5% in the euro area and 1.2% in the EU.
This data reflects what has been happening in the polymer markets. Participants in the sector, namely buyers and sellers of polymers, noted that activity for the sector has fallen as much as 40% in some segments of the industry.