Portugal with 18% drop in construction production

The annual decline in the volume of construction compared with slips 4.7% in the Eurozone and 5.9% in the European Union. Only Slovenia and Italy show a variation in the production of construction equal to or worse than Portugal sector. Portugal back in November, to be featured in the construction production declines in the European Union. Production in construction index, which aims to provide an increase in the volume of production in the sector – between building construction and civil engineering – slid 17.9% in Portugal in November 2012 over the same month last year.

According to data published today by the European statistical office (Eurostat), the production in the construction sector, adjusted for seasonal terms, declined 4.7% in the Eurozone and 5.9% in the EU-27. Portugal scored, together with Italy, the second largest drop in this indicator, exceeded only by Slovenia, where volume slipped 20.4% in construction. Sweden, with an advance of 10.3%, was the country that prevented a largest annual decline in European production.

The decreases in production in domestic construction have been double digit for many months now, and still fall November is lighter than the previous month (-18.8%) and is the lowest since August. The building was one of the sectors battered by the European debt crisis, with the freezing of public investment in new works and the difficulties that face homebuilders due to European macroeconomic environment. Portugal, in the economic downturn, has been almost always falls on leadership in Europe.