Eurostat – Production in the construction sector fell 1.6% in August -How Greece fared

In August 2021 compared with July 2021, seasonally adjusted production in the construction sector decreased by 1.3% in the euro area and by 1.8% in the EU, according to first estimates from Eurostat the statistical office of
the European Union. In July 2021, production in construction rose by 0.1% in both the euro area and in the EU.

In August 2021 compared to August 2020, production in construction decreased by 1.6% in the euro area and by 1.0% in the EU.

Monthly comparison by construction sector and by Member State

In the euro area in August 2021, compared with July 2021, civil engineering decreased by 1.9% and building construction by 1.3%.

In the EU, building construction decreased by 2.1% and civil engineering by 1.4%.

Among Member States for which data are available, the largest monthly decreases in production in construction were recorded in Sweden (-10.5%), Hungary (-5.9%) and Germany (-3.1%). The highest increases were
observed in Portugal (+ 2.4%), Slovakia (+ 1.9%) and Poland (+ 1.6%).

Annual comparison by construction sector and by Member State

In the euro area in August 2021, compared with August 2020, civil engineering decreased by 2.9% and building construction by 1.3%.

In the EU civil engineering decreased by 1.5% and building construction by 0.7%.

Among Member States for which data are available, the largest annual decreases in production in construction were observed in Spain (-13.9%), Romania (-7.0%) and Slovenia (-6.8%). The largest increases were recorded in
Hungary (+ 10.2%), Poland (+ 7.9%) and Finland (+ 4.7%).

Greece

Greece exhibited relatively high growth rates in construction vis-a-vis the overall EU and Eurozone aggregates: 11.0 in Q3 2020 (as against the Euro areas’ 14.6 average and the EU’s 11), 2.7 in Q4 2020 ( as against the Euro areas’ 0.7 average, and the EU’s 0.8)  -3.4 in Q1 2021 (as against the Euro areas’ 0.3 average, and the EU’s 0.5), and 5.4 in Q2 2021 (as against the Euro areas’ 1.5 average, and the EU’s 1.6).

In any event, using 2015 as a benchmark year, Greece remained the European laggard, registering in quarterly indices for production in construction, calendar and seasonally adjusted (between Q3 2019 and Q2 2021) between 66.6 and 57.1.