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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
MNI (London)
EUROZONE DEC CONSTRUCTION OUTPUT -2.5% M/M; NOV -0.1%r M/M
EUROZONE DEC CONSTRUCTION OUTPUT -1.3% Y/Y; NOV +1.6%r Y/Y
- Euro area construction contracted into year-end, down -2.5% m/m after upwards revisions to an only marginally contractive November.
- This data implies a negative contribution from construction, which alongside industrial production will drag on eurozone Q4 GDP. Further detail on the GDP components is due in the final March 8 release.
- Germany recorded the largest December slump (-8.0% m/m), which PMI data flagged as a result of a plunge in housing activity.
- Looking forward, the eurozone construction PMI registered a ninth consecutive month of contraction in January. The year began on shaky footing as firms flagged continued concern over projects being paused due to the high inflation and interest rate environment. However, the decline in new orders is showing signs of easing.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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