Eurozone’s construction sector output slowed sharply amid reduced demand as costs surged at the second-fastest rate in the survey’s history.
- The S&P Global Eurozone Construction Total Activity Index fell from 52.8 in March to 50.4 in April, signaling a softer improvement in activity. The rate of expansion was only marginal and the slowest ever recorded in the current seven-month trend of growth.
- Eurozone commercial building activity dropped for the first time since last September during April, with the rate of contraction the sharpest recorded for a year.
- Usamah Bhatti, Economist at S&P Global, stated that the expansion in the Eurozone construction sector might have expanded to a seventh month in April, but the pace of growth slowed considerably to hit the lowest in this sequence.
Construction firms in the euro area were pessimistic about the 12-month outlook for the activity for the second consecutive month in April.
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Source: S&P Global