Decline in construction in the euro zone marked a considerable decrease, accounting for a 12.5 per cent slump across in January on annual basis, data from Eurostat revealed in a media statement on March 17 2010.

In December 2009, the decline was 2.5 per cent on annual basis for the entire union, the report said.

Construction in January 2010 in the euro zone shrank by 10.6 per cent whereas average figures for the European Union stand at a 7.6 per cent drop.

Among member states, construction output fell in eight countries but rose in Slovenia by 7.1 per cent, Sweden by 2.7 per cent and in the United Kingdom by 0.9 per cent.

On a monthly level, Bulgaria is among the leaders in the chart from the negative side, with the largest decreases accounted for in the Czech Republic, down by 22 per cent, Germany with 14.3 per cent and Bulgaria and Spain both sustaining a 6.1 per cent shrinkage.

But when annual statistics are taken into account, construction output fell in nine countries and grew once again in Sweden by 13.6 per cent and the United Kingdom with 1.1 per cent.

Bulgaria was once again at the very top of the negative chart, incurring a 30 per cent decline on an annual basis, followed by the Czech Republic at 24.6 per cent, Germany at 16.5 per cent and Spain with 14.6 per cent.

Building construction dropped by 10.6 per cent in the euro zone and by 7.6 per cent in the European Union, following a decline of 4.9 per cent and 6.5 per cent, respectively, in December. Finally, infrastructure construction went down by 10.5 per cent in the euro zone and by 2.9 per cent in the European Union, following a drop of 0.2 per cent and an increase of 4.6 per cent, respectively, the previous month.

Source propertywisebulgaria.