- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Construction sector collapse

Cyprus onstruction sector collapsePRODUCTION in the Cyprus construction sector fell 18.8% in the fourth quarter of 2014 compared to Q4 2013, the biggest fall in the European Union according to a Eurostat news release published this morning.

This followed a 22.1% fall in the previous quarter.

Cyprus was followed by Slovakia, where production in the construction sector fell 6.3%, France (- 5.9%) and Italy (-5.6%).

The best performing states were Lithuania, where production rose by 13.5%, Sweden (+13.2%), Greece (+11.7%) and the Netherlands (+10.1%).

Overall in the eurozone, production in construction fell 0.7% in the fourth quarter, while in the EU it increased 0.7% compared to the fourth quarter of 2013.

Further reading

Eurostat newsrelease 70/2015 – 20 April 2015