Eurozone construction remains under pressure - PMI
By Abigail Townsend
Date: Thursday 04 Sep 2025
(Sharecast News) - The Eurozone's construction sector remained under pressure this summer, a closely-watched survey showed on Thursday, although the pace of decline softened.
August's HCOB Eurozone construction PMI total activity index came in at 46.7, still below the neutral 50.0 benchmark but up on July's 44.7.
A reading above 50 indicates growth while one below it suggests contraction.
Respondents noted that new orders had fallen at a softer rate. However, the decline remained sharp, weighing on both employment and purchasing.
Among individual sectors, housing remained the most hard-hit - although the fall was the softest in four months - while commercial activity saw the steepest contraction since November 2024.
However, civil engineering bucked the trend, expanding for the second time in the last three months following a pick-up in demand in France and Italy.
Among individual countries, in Germany - the bloc's biggest economy - the PMI was largely unchanged at 46.0, while in Italy it eased to 47.8 from 48.3 a month previously. However, in France it jumped to 46.7 from 39.7.
Norman Liebke, economist at Hamburg Commercial Bank, said: "Eurozone construction activity may be on the up. Activity declined in a rapid manner, although the pace slowed modestly - the lowest in two and a half years.
"The outlook for the European construction sector remains gloomy. Especially in Germany and France, constructors stayed pessimistic.
"On the other hand, Italian constructions are more positive about the coming 12 months."
Data were collected between 12 and 29 August. Surveys were sent to a panel of around 650 construction firms in Germany, France, Italy and Ireland.
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