European Construction Indicators & PMI: PMIs getting progressively worse while activity indicators remain strong for France and Germany

Research evidence excerpt

European Construction Indicators & PMI: PMIs getting progressively worse while activity indicators remain strong for France and Germany

16 June 2026

European Construction & Building Materials

European Construction Indicators & PMI: PMIs getting

progressively worse while activity indicators remain strong for

France and Germany

How is European PMI trending? What does the latest data on European construction permits Pujarini Ghosh, CFA

+44 20 7676 6807 and starts show? In this note, we delve into these topics, update the latest construction

pujarini.ghosh@bernsteinsg.com permits, starts and PMI data for core European markets - France, Germany, UK and Spain.

This report is part of our monthly series, discussing latest construction trends across key

Victor Acitores European markets. To gain recurring access to the Excel-based version of this data

+34 915 893 901

victor.acitores@bernsteinsg.com feed, please reach out to your Bernstein salesperson.

PMIs continue to deteriorate across all major markets, reinforcing the weak near- Alasdair Leslie

+44 20 7762 4952 term outlook. Construction PMIs remain below the 50 expansion threshold in France (c.

alasdair.leslie@bernsteinsg.com 38), Germany (c. 42), and the UK (c. 40), with the UK now in contraction for 17 consecutive

months. The decline is broad-based across residential, commercial and civil engineering

Chad Dillard segments, reflecting weak demand, falling new orders, and declining backlogs. Notably, +1 917 344 8469

chad.dillard@bernsteinsg.com Germany has returned to contraction after briefly stabilizing, while UK sentiment has

weakened further, suggesting that any recovery remains delayed and fragile.

James Hooper

+44 20 7676 6995 Permits and starts data show early but uneven recovery signals, particularly in