Eurozone Construction PMI

The HCOB Eurozone Construction PMI rose to 43.0 in October 2024 from 42.1 in September, signaling a severe yet easing drop in output. The eurozone construction sector continued to contract at the start of Q4, though at the slowest pace since December 2023. The downturn was driven by falling new orders across sectors. Business confidence hit its lowest in 2024, with employment and input buying reduced. Germany experienced the fastest decline, while France and Italy had milder decreases. The residential sector fared worst, and civil engineering saw the smallest drop. New orders contracted faster, except in Italy, which saw only a slight dip. Cost pressures eased, with input price inflation slowing to a pace last seen in July 2023. Job cuts persisted for the 20th month, especially in Germany and France, though Italy saw job growth. Input buying fell, extending a long decline. Supplier performance improved less, with renewed setbacks in France and Italy.