Ontario Construction News staff writer
Construction in Spain declined sharply in the second quarter of the year, reflecting the lockdown measures for COVID-19 imposed by the government there in April and May, GlobalData reports, citing data from the Spanish statistical office
“Spanish construction output contracted by 24% in the second quarter on a quarterly basis,” Global Data economist Moustafa Ali said in a statement last Thursday.
“GlobalData forecasts that construction output will contract by 10.4% in Spain in 2020, with the steep contraction in Q2 2020 being partially offset by the general improvement in economic conditions coupled with the easing of the lockdown measures in the second half of the year,” he said. “However, there are downside risks to the prospect of a solid recovery in the second half, particularly with the recent spike in cases across the country and the prospect of a lockdown.”
On a yearly basis construction output is also markedly down, on a year-on-year basis output is down is down by 29.9% in Q2 2020 compared to Q2 2019, he said. “Employment in the Spanish construction sector decreased significantly in the second quarter, with total hours worked falling by 20% on a yearly basis.”