EU construction output shows signs of recovery in March
19 May 2010 11:46 [Source: ICIS news]
LONDON (ICIS news)--EU construction output in March rose by 6.8% from the previous month, the European statistics office said on Wednesday, indicating that one of the chemicals industry’s key downstream markets may finally be starting to recover.
Official statistics office Eurostat also said that in March , in the construction sector, seasonally adjusted production in the 16 euro area states showed signs of recovery with a 7.6% increase month on month.
In February 2010, production fell by 5.3% and 7.2% month on month in the 27 EU member states and euro area respectively.
Compared with the month before, March figures showed that among the member states for which data were available - construction output rose in thirteen and fell only in Sweden (-0.4%).
The highest increases were registered in
However, on a year on year basis, Eurostat said that EU construction output continued to fall in March with a 2.4% decrease compared with the same period in 2009.
Output in the euro area during March 2010 had also declined 5.2% year on year, it said.
A wide variety of products manufactured by the chemicals industry are used in construction applications, including adhesives, solvents, coatings and plastics such as polyvinyl chloride (PVC) and polystyrene (PS).
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By: Franco Capaldo
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