The HCOB Eurozone Construction PMI dropped to 43.5 in July 2023 from 44.2 in the previous month, marking the most significant reduction in construction activity since December 2022. It was also the 15th consecutive month of output decline, driven mainly by a sharp fall in residential construction, which was the most severe since April 2020. Additionally, commercial work contracted at a 7-month low, while civil engineering projects decreased at a solid pace, little changed from June. The inflow of new business fell for the 16th month, leading firms to cut back on purchasing activity, with the rate as the second-quickest since August 2022. Moreover, employment shrank for the 5th month but moderated from an over 3-year low recorded in June. Meanwhile, input costs rose at its slowest pace in over 7 years due to lower demand and greater material availability. Overall, business remained downbeat for the next 12 months, with the degree of pessimism being the most pronounced in 7 months. source: Markit Economics

Construction PMI in Euro Area averaged 48.50 points from 2013 until 2023, reaching an all time high of 57.00 points in January of 2018 and a record low of 15.10 points in April of 2020. This page provides - Euro Area Construction Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Construction PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Construction PMI in Euro Area is expected to be 47.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Construction PMI is projected to trend around 54.20 points in 2024 and 52.90 points in 2025, according to our econometric models.

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Euro Area Construction PMI



Related Last Previous Unit Reference
Construction PMI 43.50 44.20 points Jul 2023

Euro Area Construction PMI
Data are collected at mid-month, asking respondents to compare a variety of business conditions with the situation one month ago. A reading of below 50.0 indicates that the economy is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month.
Actual Previous Highest Lowest Dates Unit Frequency
43.50 44.20 57.00 15.10 2013 - 2023 points Monthly
SA

News Stream
Eurozone Construction Shrinks Most in 7 Months
The HCOB Eurozone Construction PMI dropped to 43.5 in July 2023 from 44.2 in the previous month, marking the most significant reduction in construction activity since December 2022. It was also the 15th consecutive month of output decline, driven mainly by a sharp fall in residential construction, which was the most severe since April 2020. Additionally, commercial work contracted at a 7-month low, while civil engineering projects decreased at a solid pace, little changed from June. The inflow of new business fell for the 16th month, leading firms to cut back on purchasing activity, with the rate as the second-quickest since August 2022. Moreover, employment shrank for the 5th month but moderated from an over 3-year low recorded in June. Meanwhile, input costs rose at its slowest pace in over 7 years due to lower demand and greater material availability. Overall, business remained downbeat for the next 12 months, with the degree of pessimism being the most pronounced in 7 months.
2023-08-04
Eurozone Construction Falls Most in 6 Months
The HCOB Eurozone Construction PMI declined to 44.2, down from the previous month's 44.6 and indicating the most significant reduction in overall construction activity since December 2022. It also marks the 14th consecutive month of output decline, primarily driven by a sharp contraction in residential construction. Commercial work and civil engineering projects also continued to decline. The inflow of new business experienced the steepest drop since the end of 2022, and the rate of job cuts accelerated to its fastest pace since May 2020. Moreover, eurozone construction companies witnessed a significant decline in purchasing activity, reaching its lowest level in over three years. Input costs, on the other hand, increased at the slowest rate since March 2016. Overall, businesses maintained a pessimistic outlook for the next 12 months, citing tight financial conditions, limited investment, and economic uncertainty as contributing factors.
2023-07-06
Eurozone Construction Downturn Deepens in May
The HCOB Eurozone Construction PMI decreased to 44.6 in May 2023 from the previous month's 45.2, indicating the most significant monthly decline in overall construction activity thus far in 2023. The housing sector experienced the steepest fall, while commercial construction work declined at the fastest pace in five months. Civil engineering was the only sub-sector that reported a slower contraction, although the rate of decline remained substantial. Eurozone construction companies witnessed a notable decrease in new orders, the largest since December of the previous year, primarily due to elevated economic uncertainty. Moreover, the rate of job cuts accelerated, input buying declined for the twelfth consecutive month and average vendor performance improved for the first time since August 2012. On the pricing front, there was a moderation in input cost inflation, reaching a three-year high.
2023-06-06