Opstekertje:
LONDON--Output by euro-zone construction companies rose in the second quarter at the fastest rate in over two years, a performance that helped the region's economy escape an 18-month downturn.
Eurostat, the European Union's official statistics agency, said Tuesday that production by construction firms in the 17 nations that use the euro rose 1.0% in the April-to-June period compared with the prior three months, the strongest rise in a calendar quarter since the first three months of 2011.
The industry's strong performance came after a particularly weak first quarter, when output was hit by exceptionally cold weather across much of Europe. The data are adjusted to strip out changes in production normally caused by seasonal patterns.
Growth in construction output in the latest quarter was driven by increases of 3.9% in Germany and 1.2% in France, the currency bloc's two biggest economies that together account for around half of its economy. Construction levels fell 0.2% in Spain and 3.4% in Portugal.
Eurostat said that in June alone, euro-zone construction output rose 0.7% month-to-month, the third consecutive rise, and was down 3.0% compared with June 2012.