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Euro-Area Construction Output Increases Most in Five Months

Feb. 17 (Bloomberg) -- European construction output advanced the most in five months in December as a rebound in Spain helped offset declines from Germany to Portugal.

Construction in the 17-nation euro region rose 0.3 percent from November, when it gained a revised 0.2 percent, the European Union’s statistics office in Luxembourg said today. That is the biggest advance since July. From a year earlier, output increased 7.8 percent.

In Germany, Europe’s largest economy, construction dropped 6.4 percent in December from the previous month, when it rose 3.3 percent, today’s report showed. France reported a decrease of 2.2 percent, while Portugal saw a drop of 0.2 percent. In Spain, output advanced 1.1 percent from November, when it decreased 0.5 percent.

The statistics office had previously reported a monthly gain of 0.8 percent in November. It didn’t provide December data for nations including Greece, Ireland, Italy and Austria.

The euro was little changed against the dollar after the data, trading at $1.3159 at 10:08 a.m. in London, up 0.2 percent on the day.

In the 27-nation EU, construction output decreased 0.4 percent in December, according to the statistics office.

To contact the reporter on this story: Simone Meier in Zurich at smeier@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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