The building of the euro area continues to fight with civil engineering and commercial real estate, showing the struggle for weaknesses.
Release time:
2024-11-11
Eurozone construction continues to struggle with civil engineering, commercial real estate and particularly housing showing weakness.
Eurozone construction continues to struggle with civil engineering, commercial real estate and particularly housing showing weakness. Falling new orders mean that weak conditions to persist in the first half of 2024.
Eurozone construction down -1.0% m-o-m (-0.5% y-o-y) in October; Buildings down -0.9% m-o-m (-0.8% y-o-y); Civil works down -1.0% m-o-m (1.2% y-o-y).
The IHS Markit Eurozone Construction PMI increased to 43.6 in December from 43.4 in November (< 50, contraction).
Overall construction underpinned by the single family segment due a shortage of homes; policy by the administration to bring manufacturing to the USA supporting factory construction.
Private residential output up 1.1% m-o-m (3.7% y-o-y) in November; Building permits down -2.1% m-o-m (4.6% y-o-y) but single family permits up 0.7% m-o-m and to the highest since May 2022.
Private non-residential output up 0.2% m-o-m (19.3% y-o-y) in November; Architecture Billings Index (ABI) up to 45.3 in November from 44.3 in October (< 50, contraction).
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