MADRID, 6 Abr. (EUROPA PRESS) -

Construction activity in the euro zone as a whole experienced a decline in March for the eleventh consecutive month, according to the Purchasing Managers' Index (PMI), prepared by S

"The Eurozone construction sector fell deeper into contraction territory at the end of the first quarter of 2023. There were sharp and clear declines in both activity and new order volumes in March that were the largest so far this year", has indicated the economist from S

By country, the worst data was recorded in Germany, where the reading of the index reached 42.9 points, while France stood at 45.3 points and Italy reached 47.4 points. By segments, the fall was led by housing, ahead of civil works and commercial real estate.

In this sense, the new orders received by construction companies contracted at the end of the first quarter. This reduction means that the negative trend covers a year now, with Germany and France recording the fastest declines in new construction.

Regarding employment, a contraction was registered for the eleventh time in the last 12 months. The pace of job destruction has accelerated since February and was the most pronounced since September.

Thus, confidence in the construction sector remained at negative levels at the end of the quarter. "The degree of pessimism was greater than that observed in February," highlighted S