The IHS Markit Eurozone Construction PMI edged down to 47.8 in August of 2020 from 48.9 in July. The reading pointed to the 6th straight contraction in the construction sector and the sharpest in three months. Civil engineering activity and commercial building output recorded the biggest decreases. The level of work undertaken on home construction projects was marginally lower during August. Mild growth in housing construction activity in Germany and Italy was insufficient to offset a solid decline in home building activity in France. New business received by Eurozone construction firms fell further in August, though the rate of decline eased again and was the slowest in the current six-month sequence. Employment was reduced further amid lower activity, input price inflation intensified and overall sentiment among Eurozone building companies turned negative again.
Construction Pmi in the Euro Area averaged 48.76 points from 2013 until 2020, reaching an all time high of 57 points in January of 2018 and a record low of 15.10 points in April of 2020. This page provides - Euro Area Construction Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Construction Pmi - values, historical data and charts - was last updated on September of 2020. source: Markit Economics
Construction Pmi in Euro Area is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Pmi in Euro Area to stand at 54.20 in 12 months time. In the long-term, the Euro Area Construction Pmi is projected to trend around 52.00 points in 2021 and 53.80 points in 2022, according to our econometric models.