The downturn in the euro area’s construction sector intensified in October 2026, with the HCOB Eurozone Construction PMI falling to 42.5 from 43.4 in September. The latest reading, updated on 5 November 2026, signals a further month‑on‑month deterioration in activity and keeps the index firmly below the 50-point threshold that separates expansion from contraction.
On a month-over-month basis, the October figure reflects a weaker performance compared with September, when the PMI had already indicated a decline in construction output. The comparison framework shows that not only did activity remain in contractionary territory, but the pace of decline also accelerated between September and October.
