Eurozone December construction output -3.1% vs +0.7% m/m prior
Latest data released by Eurostat - 17 February 2020
- Prior +0.7%
- Construction output -3.7% y/y
- Prior +1.4%
Those are dreadful readings but it pretty much reflects the sluggishness in the euro area economy towards the end of last year. The bright side is that the poor figures here should already be translated to the Q4 GDP release from last week.
EUR/USD continues to keep steady around 1.0803 today but remains vulnerable should economic activity struggle much more in the new year.