Latest data released by Eurostat - 19 July 2021

  • Prior -2.2%; revised to -0.4%
  • Construction output +13.6% y/y
  • Prior +42.3%; revised to +45.2%

Slight delay in the release by the source. Some modest revisions to the April readings and a bit of an improvement in construction activity in May. Building construction was up 1.2% on the month while civil engineering activity fell by 0.3%.

Overall, this reaffirms a gradual improvement in the construction sector though the road is still bumpy with supply chain disruptions a key risk to watch.