Europe’s Construction Activity Collapses as Lockdown Hits Builders

Europe’s construction industry has suffered its biggest drop in activity since the financial crisis after many building sites closed and the supply of workers, materials and safety equipment was heavily disrupted by the coronavirus pandemic, the Financial Times reported. The IHS Markit purchasing managers’ survey for construction fell from 52.5 in February to 33.5 in March, figures published on Monday showed. A reading below 50 indicates a majority of businesses reported a deterioration in activity. Bernard Aw, principal economist at IHS Markit, said: “The eurozone construction sector fell into a severe downturn in March as measures to contain the Covid-19 outbreak hit activity and demand.” Read more