Production in Construction Down by 0.9% in Euro Area

There was disappointing figures for the construction sector across the euro area, as production fell by 0.9% in March in contrast to February.

In the European Union (EU), the news was worse, as the sector dipped by 1.4%.

The sector’s performance precipitated further from the February figures, where the industry fell by 0.6% in both zones.

When compared to March 2015, the sector fell by a slower rate of 0.5% in the euro area, but the agony has been prolonged for the EU, as it fell at the same 1.4% rate.

Within the industry, the reduced activity in civil engineering and building construction, by 2% and 0.8% respectively, were the main causes for the sector’s slide.

Sweden saw an increase of 3.6%, and they were followed perhaps unsurprisingly by Germany, who recorded an increase of 3.5%.

Hungary suffered a massive reduction in construction by 22.8%, which was a major reason why their GDP suffered a fall of 0.8% in the latest quarter of growth figures.

Slovenia also suffered a heavy fall in construction of 17.3%, the UK and France saw reductions in the industry of 1,7% and 0.6% respectively.

UK Retail Prices Increase

Official figures have said that the volume of retail sales has edged upwards by 1.6% in April compared to the previous month.

Year on year, there was a more significant rise of 4.3% in sales in the sector, although there was a slower paced 0.3% rise in the first quarter of this year, compared to the final three months of 2015.

The amount spent in the retail industry increased by 1.2% compared with April 2015, and increased by 1% compared with March 2016.

Online sales were  a strong performer in the UK, with a sales increase of 9.3%, a 1.7% increase month on month, as shoppers preferred the convenience as opposed to purchasing on busy high streets.

France Unemployment Rate Stable

The International Labour Organisation (ILO) unemployment survey for the French labour market, has found that the unemployment rate was stable in the first quarter of this year, compared to the final quarter of last year.

Average unemployment in metropolitan France and overseas departments, stood at 10.2%, mirroring the figure from the last three months of 2015.

In metropolitan France, the ILO revealed that there was 2.8 million unemployed, which was also stable between the last two quarters.

When compared to the first quarter of last year, the unemployment level sank by 0.1%.

The jobless total increased for youths up to the age of 25, and for the 25 to 49 age group, which is a  satisfying pattern for the French government.

In contrast, the unemployment figures declined for those over the ago of 50.

The French government will be unhappy at the general stubborn figures, and will see it as further justification for their labour laws reform, where legislation has made it easier for employers to hire and fire.

Many protests have been sparked over the reforms, as the conversion to a more flexible labour market is viewed by its critics as an avenue to a lack of job security.