Economic Buzz: Eurozone Construction PMI Eases Slightly In December

6 Jan 2022 , 05:46 PM

The IHS Markit Eurozone Construction Total Activity Index dipped slightly from 53.3 in November to 52.9 in December, signalling a softer rise in activity. That said, the rate of expansion remained solid overall and extended the current period of growth to three months. Companies commonly linked the increase to stronger new order growth and the resumption of projects on hold due to the COVID-19 pandemic. Underlying data indicated sustained expansions in both house building and commercial activity, while civil engineering work fell at the softest pace in the current 29-month sequence of reduction. Eurozone construction firms expressed optimism regarding the 12-month outlook for activity for the twelfth time in a row in December. That said, the level of positive sentiment fell to an eight-month low.

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