April was still the main lock-down month though

Will There be a V-Shape Recovery for Eurozone Construction?

Posted Wednesday, June 17, 2020 by
Skerdian Meta • 1 min read

Construction Output Released by Eurostat – 17 June 2020

  • April construction output -14.6% vs -14.1% m/m prior
  • March construction output -14.1%; revised to -15.7%
  • Construction output YoY -28.4%
  • Prior construction output YoY -15.4%; revised to -17.5%

Construction activity in April slumped even more than the already poor conditions in March amid the peak of lockdown measures and the fallout from the virus outbreak in the region. That saw an unprecedented drop in annual output by nearly 30%, which should signify – much like other data points – the bottom in economic activity seen during April.

Eurozone May CPI – 17 June 2020

  • May core CPI +0.9% vs +0.9% y/y prelim
  • CPI +0.1% vs +0.1% y/y prelim

The preliminary release can be found here. No changes to the initial release as annual inflation is seen slumping to its lowest level in four years in May. Although the core reading isn’t as bad, it is still going nowhere as it has been over the last few years.

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