Eurozone construction activity continues to grow in November

According to the report from IHS Markit, eurozone construction companies saw a marginal rise in activity during November, extending the current sequence of expansion to three months. The weak rate of growth was roughly in line with that recorded in October, as an increase in housing activity offset falls among commercial and civil engineering firms. Meanwhile, new order growth quickened to its fastest in nine months and firms reported the sharpest rise in headcounts for five months. Construction input costs continued to rise solidly, but the pace of inflation was the slowest since October 2016.

Little-changed at 50.6 in November from 50.7 in October, the

Eurozone Construction PMI signalled a marginal rise in total construction activity, with the rate of growth broadly consistent with that in October. Germany posted a moderate increase, whilst activity in France was broadly flat and Italian constructors recorded a decline.

Finally, firms remained optimistic of an increase in activity over the coming year, on balance. Although the degree of positivity weakened from October to the lowest since September 2016.