Eurozone construction sector contraction worsened in October

S&P Global Eurozone’s Construction PMI for October fell to 42.5, down from 43.4 in September, marking the largest decline since April. Industry activity has now declined for 54 consecutive months, with all three major Eurozone economies experiencing contraction. France saw the largest decline, followed by Germany, while Italy’s decline was relatively moderate and the smallest in three months. Demand conditions further weakened, with new orders recording the biggest decline in six months. Employment and purchasing activity also contracted, though at a slower pace than last month. Meanwhile, input cost inflation accelerated to a five-month high, and business confidence remained significantly subdued.