Eurozone construction spending ramped up in June

Construction spending rose by 0.7 percent in the eurozone from May to June, the European Union's statistical office Eurostat said Tuesday. Spending on construction projects rose 0.8 percent in the 28-member European Union, although the data covers only 27 nations, given Croatia's membership in the EU did not start until July. The figures contrast with the previous data, as construction spending through May had dropped in six of the prior seven months. Gains in June and April's increase of 1 percent in the eurozone and 1.1 percent in the EU have not balanced out the 12-month data, which shows a decline of 3 percent in the eurozone and 1.5 percent in the EU. From May to June, construction spending rose 10.5 percent in Slovenia, 5.3 percent in Poland, 1.6 percent in Germany and 1.3 percent in the Czech Republic. Spending dropped in six states with the largest decline in Romania, down 2.4 percent, Portugal, down 2.2 percent, and Sweden, down 0.9 percent. Spending fell 0.1 percent in Bulgaria, 0.6 percent in Slovakia and 0.8 percent in the Netherlands. Spending was flat in Spain, France, and Hungary. Data was unavailable for the other states, Eurostat said.