• Euro area construction sector grows sequentially in June

    Source: FxWire Pro - Commentary / 20 Aug 2018 17:01:05   America/New_York

    Euro area’s seasonally adjusted construction sector output rose 0.2 percent sequentially in June, showed the first estimate from Eurostat. Production in construction had grown 0.3 percent in May. On a year-on-year basis, production in construction rose 2.6 percent in the euro area.

    The sequential 0.2 percent in construction output was mainly driven by civil engineering, which rose 0.3 percent, and building construction, which grew 0.1 percent in a sequential basis. Among member states, Slovakia and France recorded the highest rises in construction output, whereas Germany and Slovenia recorded the largest decrease in euro area. The annual 2.6 percent rise in construction production was driven by civil engineering that grew 3.7 percent, and building construction grew 2.1 percent.

    At 20:00 GMT the FxWirePro's Hourly Strength Index of Euro was highly bullish at 104.242, while the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -146.447. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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