Construction in Spain falls almost 10% year-on-year, well above the 2% European average
The sector's billing is declining due to the increase in costs and the lack of labor, according to the employers.
The construction industry is at the center of Spain's housing crisis, with record-high housing prices of 2,355 euros per square meter in the second quarter. The industry's recent performance has raised concerns, with Eurostat reporting a 9.7% year-on-year decline in construction production in July, significantly higher than the 1.8% decrease across the EU. This decline is based on the value of contracts invoiced by construction companies.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
