FX.co ★ Eurozone Construction Output Falls the Most in 5 Months

Eurozone construction output fell by 2% year-on-year in July 2026, the sharpest decline since February, following an upwardly revised 1.4% drop in June. Building construction remained in contraction (-6.4% vs -7.4% in June), and specialised construction activities also stayed under pressure (-1.6% vs -0.4%). In contrast, civil engineering rose by 0.6% after being flat a month earlier. Among the major economies, output declined in Spain (-9.7%), France (-5%) and Italy (-1.2%), but increased in Germany (1%). On a monthly basis, overall construction output was unchanged, after an upwardly revised 1.5% fall in June. Across the wider European Union, construction activity contracted by 1.8% year-on-year and slipped by 0.3% compared with the previous month.