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Eurozone May construction output -1.7% vs +1.7% m/m prior
EUR
- Prior +1.7%; revised to +4.3%
- Construction output +2.9% y/y
- Prior +3.0%; revised to +4.7%
Looking at the breakdown, there were decreases all around with a drop in production for construction of buildings (-1.3%), civil engineering (-0.7%), and specialised construction activities (-1.7%). This of course comes after the sharply higher revision to the April reading though. In any case, this is a lagging and non-important release by all measures.
Source: Forex Live
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