According to the report from IHS Markit, in November, the eurozone construction PMI rose to 53.3 points from 51.2 points in October. As a result, the index reached its highest level since February 2018.
As for the sectors, activity in the housing sector increased again, recording the ninth monthly increase in a row and reaching the highest level since January 2018. The commercial construction sector showed a second monthly increase in a row, while the growth rate was the highest since December 2018. Meanwhile, activity in the civil engineering sector declined, but the rate of decline was the lowest in five months.
The data also showed that new orders rose again in November (for the fourth month in a row), helped by increased demand from customers and government support for the sector. Employment also increased in November, while the growth rate was the highest since February 2020. Meanwhile, supplier delivery times declined relative to October, but remained among the highest in the entire history of observations. As for inflation, production costs continued to show steady growth in November, which remained close to record highs.