The Spanish construction sector’s output grew by 18.6% in June compared to the same month last year, according to Eurostat, the EU’s statistics office. That’s the biggest increase in the EU.
Spain led the way for annualised growth, followed by the UK (+13.6%), and Poland (+10.2%). At the other end of the scale output fell 19.6% in Hungary and 17.5% in Bulgaria. The EU average was +3.5%.
On a monthly basis, Spanish construction activity was up 7.2% in June compared to the previous month. The Eurozone average increase was 2.7%.
Spain’s sharp rebound in June followed an annualised decline in May of -18.9%, reports the Spanish press. That just goes to show you can’t read too much into one month’s figures.
Spanish residential developers have responded to the figures with surprise and scepticism, saying output is no better than last year as far as they can tell. Benjamín Muñoz, Vice-president of the Valencian developers’ association, suggested there might have been some mistake.