Residential Building Output Falls 1.3% in Q2 Amid Housing Completion Pressure in Europe
Europe: The volume of production in the residential building sector declined by 1.3% between April and June, following a 7.3% growth in the first quarter of the year, according to new data from the Central Statistics Office. This slight contraction is a concern for the Government, given the ongoing pressure to increase housing completions. In contrast, the overall volume of building and construction grew by 1.7% in the same period, marking the second consecutive quarter of growth after three quarters of decline. However, building and construction output was down 1.5% compared to the same quarter last year. The non-residential building sector saw a strong expansion of 5.3%, and the civil engineering sector grew by 3.3%. In value terms, all building construction increased by 4.6% quarterly but decreased by 0.7% annually.
Source: RTE