Italy Construction Output Grows Further

Italy's construction output expanded for the fourth straight month in November, according to the provisional data released by the statistical office Istat on Friday.

Construction production advanced a seasonally adjusted 1.0 percent month-on-month in November, though slower than the 1.3 percent increase in the previous month.

The annual growth in construction output also moderated to 1.5 percent in November from 2.7 percent a month ago.

On an unadjusted basis, construction production rose 1.5 percent annually versus a 6.3 percent strong recovery in October.

During the first eleven months of 2023, total construction production contracted by 1.2 percent compared to the same period last year.