Construction sector showed strongest growth in Q3

In the European construction sector production grew the most in Estonia, by 14.6% in annual comparison, in the third quarter of 2012, data of the European Union’s statistics agency Eurostat show. Next came Latvia with 8.3% and Austria with 5.2% growth.

The biggest year-on-year declines in construction were recorded in Greece (35.3%), Portugal (18.1%) and Italy (14.1%).

In the euro area seasonally adjusted construction fell by 4.8%, compared to the third quarter of 2011, but increased by 0.2% compared to the previous quarter. Across the EU27, production decreased by 0.7% in annual comparison and by 6.4% compared to the second quarter of 2012.

Compared to the second quarter of last year, construction production in Estonia grew by 2.5% in the third quarter. In Latvia and Lithuania decreases of respectively 0.9% and 8.4% were observed.

Source: Estonian Review

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