Euro Area Construction output fell in March

Today Euro Stat published its recent report regarding the Euro Area Construction output during March 2011: the report shows a decline in the in the construction output compared to February 2011 by 0.3% in the Euro Area.

On the other hand there was a rise in output of 1.9% in the EU27 during March 2011.

There were sharp falls in Portugal (-5.1%) and Bulgaria (-3.1%); there were rises in UK (+15.8) and Germany (6.2%).

This report shows that several countries are recovering well from the economic slowdown of recent years mainly Germany, but there are still countries that struggle.

This news doesn’t seem to affect much the EURO/USD, and if any, it’s currently traded up. Since there is a strong correlation between EURO/USD and crude oil prices, its little surprise to see crude oil prices traded up.


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