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Eurozone Construction Slips to Seven-Month Low in April

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Corporate buildings in perspective

Construction growth in the eurozone fell to a seven-month low in April, dragged by a lack of new projects during the month.

Source: Markit Economics

EZU is down 1.76%, VGK is down 1.83%.

The S&P Global Eurozone Construction Total Activity Index stood at 50.4 in April, down from the 52.8 recorded in March. The latest reading is the slowest recorded in the seven-month expansion of the sector.

Firms recorded a decline in new projects in April, given the heightened uncertainty. Commercial and civil engineering work decreased, while the house building growth fell to a 14-month low.

The deceleration comes as new orders posted the steepest declines in over a year due to the impact of the ongoing between Russia and Ukraine on market confidence and potential acquisitions.

Companies also recorded shortages in raw materials, bringing input price inflation to the second-highest on record. Pessimism also increased to the highest level since November 2020 due to the prevailing headwinds.

The biggest growth was in France, where growth fell to a six-month low.

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