EU HCOB Construction PMI (Apr) 41.7 (Prev. 44.6); the start of Q2 "brought a sharp intensification of price pressures..."

"The start of the second quarter brought a sharp intensification of price pressures, largely in response to rising raw material costs in relation to the war in the Middle East" "Higher expenses weighed heavily on the sector and contributed to the sharpest fall in activity levels since August 2024." "Falling demand was often related to rising price pressures, uncertainty and hesitancy among clients to commit to projects." "The weakness across the sector weighed on the outlook for activity, with firms signalling the greatest degree of pessimism for 16 months."