Production in Construction Down by 0.2% in Euro Area but up by 0.4% in the EU

Eurostat have found that the amount of activity in the construction sector has fallen in the euro area by 0.2% in April compared to the previous month, in contrast  there was more positive news for the whole of the European Union (EU), as business in the sector climbed up by 0.4%.
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The figures were an improvement from the data released in March, as the volume of business in construction fell by 1% in the euro area and by 1.5% in the EU,  compared with April a year ago, production in construction fell by 0.4% in the euro area and by 1.5% in the EU.

A reduction in building construction by 0.4% in the euro area was the main reason why trade in the sector declined, although civil engineering was boosted by a 0.9% rise.

For the whole of the EU, the figures were more encouraging as the increase of 0.4% can be attributed to  civil engineering rising by 1.1%, and building construction by 0.3%.

Among EU Member States , the largest decreases in production in construction were recorded in the Czech Republic on minus 3.3%, Spain minus 2.4% and Bulgaria minus 2.1%,  the highest increases were recorded in Romania 5.8%, Slovenia 5.4%, and the UK rising by 3%.

Industrial Producer Prices Fall in Germany

The index for producer prices for industrial products has fallen by a year on year 2.7% in  May, according to the Germany Federal Statistical Office, although in contrast to  April the figures were more positive, as prices increased by 0.4%.

Energy prices decreased in May 8.%, compared to the corresponding month a year ago, prices of intermediate goods fell by 2.3%, and prices of non-durable consumer goods by 0.2%., although prices of capital goods rose by 0.6%,and prices of durable consumer goods by 1.3%.

The overall index disregarding energy decreased by 0.8% compared with May 2015, and rose slightly by 0.2% compared with April 2016.

Countdown to UK EU Referendum

There are now just three more days to go before Britain decides whether it will leave the EU, in the referendum vote schedule for June 23.

Both the Leave and Remain campaigns will be frantic, as they will try to sway any undecided voters.

Most of the recent polls have revealed that the momentum is with those who wish to walk away from Brussels, but the very latest polls have suggested that the Remain camp is now back in the ascendancy.

A Survation poll that was taken on June 18, placed the Remain vote on 45%, compared with 42% who wished to leave the EU.

Meanwhile major business figures have been voicing their opinions over what leaving the EU really means, Virgin mogul Sir Richard Branso warned a British exit from the EU would be “devastating” for the UK’s long-term prosperity, a position supported by the Premier League football Chair Richard Scudamore, who said that a ‘Brexit’ would be incongruous with league’s commitment to openness.

While John Longworth, chair of Vote Leave business council, said the UK would be better off outside the EU, he opined that “The single market isn’t a nirvana, it’s a mirage. The single market’s a protectionist area.”