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European construction levels peak

The EU construction market is at its biggest since April 2012

Data from statistical office Eurostat showed output grew by 1.5 per cent across the 28 member states in January.

This gave an index reading of 94.9, the highest it has been for 21 months.

To put this in context, the EU posted above 120 in the seasonally adjusted index in early 2008; and as low as 91 in early 2012.

Ever-volatile Slovenia led the growth in January with an incredible 22.4 per cent hike in output.

This was supported by growth of 5.8 per cent in Spain, 4.4 per cent in Germany and 2.5 per cent in the Netherlands.

Romania, Slovakia and France were the only countries to see their industries shrink by more than 2 per cent.

There was growth of 1.9 per cent in the UK.

Buildings work increased by 1.7 per cent across the EU in January, while the overall construction figure was dragged down by a fall in civil engineering work.

Construction output has now increased for two months after a four-month period of decline.

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