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Euro-Zone Construction Outputs Fall 1.3%, Lead by Spain and Germany
Wednesday, 19 November 2008 09:28:02 GMT
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Construction outputs in the Euro-Zone plunged 1.3% in September, and may fall further over the coming months as the economy slips into a recession. A breakdown of the report showed that building activity in Spain fell 7.8% from the previous month, followed by a 1.7% decline in Germany. The data suggests that the European Central Bank will deliver another rate cut at the December 4th policy meeting, and may continue to ease policy further well into the next year as growth prospects deteriorate.
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