New passenger car registrations rose 11.5% to 802,763 units in February in the European Union, as per a report released by the European Automobile Manufacturers’ Association (ACEA) on Tuesday. Registrations climbed for the seventh consecutive month.
“Most EU markets showed strong growth,” it was noted in the report, as Spain and Italy registered the biggest jumps, with the figures surging 19.2% and 17.4% respectively.
The number of battery electric and hybrid cars registered in the bloc was up in the reported month, with the former making up 12.1% of the market and the latter making up 25.5% of the market. Petrol was still “the top choice for newly-registered cars in the EU, with a market share of 36.9%.”
Eurozone construction output up 3.9% in January
Seasonally adjusted production in the construction sector in the euro area rose by 3.9% month-on-month in January, according to the report published by Eurostat on Tuesday. In the entire European Union, the figure was also up by 3.5%. On the yearly basis, the construction output gained 0.9% in the euro area, and 1.4% in the bloc. Building construction in the Eurozone jumped 4.2% compared to December, while civil engineering grew 3%. In comparison to January 2022, the building construction climbed 1.4%, while civil engineering fell 1.9%. In the EU, building construction increased by 3.6% and civil engineering by 2.3% on a monthly basis, while year-on-year the figures advanced by 1.5% and 0.5% respectively. The member states that saw the largest annual construction production increases in January were Slovenia with 26.7%, Slovakia with 14.7%, and Portugal with 6.3%. NN: This is not what a economic slow down looks like. More like a coming boom!