European Construction Rebounded in November
European construction output rose in November after three months of contraction, led by Germany, adding to signs that the euro-area economy may be stabilizing.
Construction in the 17-nation single-currency region advanced 0.8 percent from October, when it fell 1.4 percent, the European Union’s statistics office in Luxembourg said today. From a year earlier, November output was up 0.2 percent.
European Central Bank President Mario Draghi said on Jan. 12 that the euro-area economy is showing “tentative signs of a stabilization in activity at low levels.” While Draghi still warned of “substantial downside risks,” the central bank voted to keep interest rates at a record low.
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Source: Bloomberg
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