Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Eurozone construction still in doldrums, but decline softens - PMI
(Sharecast News) - The eurozone construction sector remained in contraction in March as activity fell sharply, although at a softer pace due to a slower decline in new orders according to a survey published on Friday. HCOB's eurozone construction PMI total activity index came in at 44.8 in March, up from 42.7 in February, the softest reduction in new orders since April 2022, but still well below the 50 mark that indicates expansion.
Employment fell at a softer rate and only marginally, while retrenchment efforts also eased through slower reductions in input buying and subcontractor use. Cost burdens rose only moderately, while the 12-month outlook showed signs of stabilising, the survey found.
The latest data indicated a sharp decrease in total output at the end of the first quarter, driven by marked contractions in Germany and France, with the former experiencing the steepest decline in 2025 so far.
"French firms recorded a strong contraction that nonetheless eased compared to the previous month, while firms in Italy bucked the wider trend to record the fastest expansion since December 2023," HCOB said in a statement.
Weak demand conditions across the eurozone construction sector drove the overall downturn, as new orders fell again in March. However, the rate of decline eased from February and was the least pronounced in just under three years.
Norman Liebke, economist at Hamburg Commercial Bank, said: "The construction sector in the eurozone is still in a deep contraction zone. Even though the HCOB PMI index recovered somewhat in March, the current value is still far from the expansion threshold."
"The activity index has been around this level for almost two-and a-half years and does not appear to be moving away any time soon. Despite the ECB's recent interest rate cuts, the interest rate sensitive sector has not been able to lift itself into the growth zone."
Germany's recent decision to pump money into infrastructure could start to benefit the construction sector from the end of 2025, he added.
"Certainly, improvements in business expectations may be visible soon."
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
