Eurozone Construction Activity PMI Rise to 51.2 in October

Close-up of a businessman's hand placing house models on increasing blue arrow staircase

The Eurozone construction sector recorded its best monthly growth since the start of the pandemic.

Source: IHS Markit.

Euro Stoxx 50 up +0.90%, EUR USD down -0.24%

The latest Eurozone construction purchasing managers’ index rose 51.2 points in October, from September’s 50.0 mark.  The 50 mark separates growth from decline.

IHS Markit stated that October posted modest growth in construction activity. The increase was first recorded in June and the sharpest since the start of the Covid-19 pandemic.

Usamah Bhatti, Economist at IHS Markit, stated that delays in sourcing and obtaining raw materials led to price pressures among Eurozone construction firms.

Expansion in construction activity was largely linked to stronger demand and increasing workloads.

Housebuilding remained the strongest sector in the Eurozone, even though there was a bounce-back in commercial construction in the survey period.

Among the Euro area’s largest economies, the German construction PMI increased to 47.7 from 47.1 but remained in the negative region. While in France, the PMI increased to 50.3 points from 48.9 points.



Eurozone Construction Expands for First Time in Four Months

Previous article

U.S. Payrolls Expanded by 531,000 in October as Unemployment Rate Dropped to 4.6%

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News