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Eurozone Construction Expands for First Time in Four Months

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Rear view of young engineer standing outdoors, arms on hips.

Construction in the Eurozone expanded in October to mark the first growth in four months and the sharpest since the COVID-19 pandemic hit.

Source: IHS Markit

EZU is down 0.04%

The IHS Markit, Eurozone Construction Total Activity Index, stood at 51.2 in October, up from the 50.0 threshold that separates expansion and contraction.

The expansion was the first recorded in four months since June, and the sharpest since the COVID-19 pandemic hit, attributed to higher demand and more workloads, led mainly by housebuilding as civil engineering remained in contraction.

Construction works expanded for the eighth straight month but eased to the weakest in seven months since March. Commercial activity rebounded back to expansion territory, marking the first growth since February 2020 as French and German firms recorded increases.

New business received by Eurozone construction companies climbed for the third straight month, albeit at a slower pace. Employment also climbed for the fifth straight month, even as supply-chain disruption was widespread across the largest economies.

Positive sentiment levels eased to the softest since April due to price and material pressures.

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