Source: S&P Global
Construction activity weakened in the eurozone in May, with an index of 49.2, signaling contraction and down from 50.4 in April. The fall in activity was the fastest in fifteen months. DAX is down -1.16%, EURUSD is down -0.36%.
- The decline in construction activity was connected to higher material prices and supply-chain bottlenecks that affected output and demand.
- All the subsectors of construction posted declines, with house building work edging lower for the first time since February 2021. Commercial building declined at one of the fastest paces since April last year.
- The decline in activity was underlined by weak new orders, which contracted for the second straight month in May.
- Regarding the 12-month outlook, eurozone construction firms remained less upbeat. The pessimism was underlined by the Future Activity Index, which hit its lowest in 19 months.