FX.co ★ Eurozone Construction Downturn Deepens in October

The S&P Global Eurozone Construction PMI fell to 42.5 in October 2026 from 43.4 in September, marking the steepest downturn since April. Construction activity has now declined for 54 consecutive months, with all three major Eurozone economies remaining in contraction territory. France recorded the sharpest fall, followed by Germany, while Italy saw a more moderate decline—the mildest in three months.

Demand conditions deteriorated further, as new orders registered their steepest drop in six months. Employment and purchasing activity also continued to contract, though both did so at softer rates than in the previous month. Cost pressures stayed historically high, with input price inflation quickening to a five-month peak.

Eurozone construction firms became more pessimistic about the outlook for the year ahead in October. Negative sentiment persisted for an eighth consecutive month and fell to its lowest level since April. Confidence was weakest in Germany and France, while Italian firms also turned slightly pessimistic.