The S&P Global Eurozone Construction PMI fell to 42.5 in October 2026 from 43.4 in September, marking the steepest decline since April. Activity has now fallen for 54 consecutive months, with all three major Eurozone economies recording contractions. France experienced the sharpest decline, followed by Germany, while Italy saw a softer reduction, the mildest in three months. Demand conditions weakened further, with new orders recording their sharpest decline in six months. Employment and purchasing activity also contracted, although at at softer rates than in the previous month. Cost pressures remained historically elevated, with input price inflation accelerating to a five-month high. Eurozone construction firms grew increasingly pessimistic about the year ahead in October, with negative sentiment extending for an eighth consecutive month and reaching its weakest level since April. Sentiment was weakest in Germany and France, while Italian firms also turned slightly pessimistic.