Eurozone Construction Output Growth Drops to Five-Month Low in March

Source: Markit Economics

Eurozone construction output growth fell to a five-month low in March as firms recorded inflationary concerns and uncertainties due to geopolitical tensions. EZU is down 1.59%, while VGK is flat premarket.

• The S&P Global Eurozone Construction Total Activity Index stood at 52.8 in March, down from 56.3 in February. This is the slowest expansion since October 2021.
• Firms reported that growth was hampered by higher prices and concerns amid the ongoing war between Russia and Ukraine.
• Homebuilding grew for the 13th straight month, but growth was modest to record the softest pace in five months.
• Commercial construction projects expanded for the sixth straight month, but growth was the slowest in five months since October 2021.
• Civil engineering activity climbed for the third straight month, but the expansion was the slowest seen in the period.
• New order growth also saw the same trend, recording the weakest growth in seven months due to geopolitical tensions.