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Spanish building industry suffers EU's highest drop - Buying property in Spain
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Spanish building industry suffers EU’s highest drop

Spain’s contruction industry experiences highest drop in production in November compared to all other EU countries

According to figures published by the EU statistics office (Eurostat) production in Spain’s construction industry dropped by 3.9% in November 2007 compared to the previous month. During this period the real estate sector throughout the Euro zone suffered a fall in productivity of 0,8%, while the 27 EU member states experienced a drop of 0.2%.

In October 2007 statistics showed a rise of 0.6% in the Euro zone and a rise of 0.3%for the EU 27. The statistics compiled by Eurostat take into account seasonal variations that affect the real estate sector and include subsectors and civil construction.

Among the 10 EU member states that have provided statistics for November 2007 Spain saw the steepest drop in production followed by Portugal with a drop of 2.8%, Slovenia saw a drop of 2.6%, Germany 0.7%, France 0.4%, Slovakia and Holland both experienced a drop of 0.

1%. The only 3 EU member states that saw monthly rises in productivity were Poland (2.3%), Rumania (1.8%) and Sweden (1.6%).

On the whole the construction of buildings dropped by 1.1% in the Euro zone and 0.2% among the 27 EU member states during October 2007.

Statistics for the civil construction industry also dropped by 0.5% both in the Euro zone and among the EU 27 member states in November last year. This compares unfavourably for figures for the previous month which shows a growth of 0.1% in the Euro zone and and 0.4% for the EU 27.

Statistics also show a drop in productivity in the construction industry when comparing figures for November 2007 and November 2006 with a drop of 0.8% for the Euro zone although it rose by the same amount among the EU 27.

When comparing statistics over 12 months production dropped in 4 EU member states and grew in 6 others.

The highest falls were registered in Germany and Slovakia at 6.3% and Spain at 6.2% followed by Portugal at 2.8%.

The highest growth in productivity in the construction industry was in Rumania which experienced a spectacular growth of 32.6% together with Poland which saw a growth of 11.1%. Slovenia experienced a growth of 9.1%, Sweden 6.3%, Holland 4.8% and France 2.1%.

Sector by sector the construction of buildings dropped by 0.7% in the Euro zone although it rose by 12% among the EU 27 while civil construction dropped by 1.2% in the Euro zone and rose by 0.15% among the EU 27.