Construction volumes in the euro zone fell by 2.5% in December 2022 compared with the previous month, according to Statistics European Union (Eurostat). On an annualized basis, construction fell 1.3%.

Data for November were revised upward. According to revised data, volume of construction fell by 0.1% in November compared to October, previously reported a decrease of 0.8%. Growth in annual terms was 1.6%, not 1.3% as previously reported. Stay tuned as this news has an impact on the DAX Index.

In the 27 EU countries, construction volume decreased by 2% the month before last after growing by 0.1% a month earlier. On a year-on-year basis, the figure was down by 0.4%.

Among the EU member states with data for December, the largest declines for the month were Germany (-8.0%), Austria (-7.6%) and Poland (-3.8%). Slovenia (10.6%), Slovakia (9.5%) and Sweden (4.3%) saw the largest increases.

In annual terms, the most notable declines were in Germany (-8.2%), Spain (-6.3%) and Austria (-6.0%). The largest increases were recorded in Slovenia (74.5%), Romania (18.4%) and the Netherlands (4.9%).

Earlier we reported that inflation in the Eurozone slowed down to 8.6% in January and to 10% in the EU.