Construction activity in the eurozone has continued to grow but at the slowest pace in five months.
- Companies stated that growth was partially held back by concerns of rising prices and uncertainty emerging from the outbreak of war in Ukraine.
- The eurozone Construction Purchasing Managers’ Index (PMI)’s headline figure, the total activity index, plunged to 52.3 in March from 56.3 in February, signaling the slowest expansion in overall construction activity since October.
- Homebuilding in the euro area rose for the 13th consecutive month in March. The rate of expansion slowed to the softest for five months and was only modest.
- Civil engineering activity rose at the slowest rate in the current three-month sequence during March.
Eurozone construction companies pointed to a wider slowdown in the growth of new orders in March. The expansion was the weakest for seven months as war in Ukraine, and rising prices dampened client confidence.
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Source: S&P Global