Euro Zone: Construction Output Falls for 2nd Month.

Eurozone construction output declined by 1.9% year over year in February 2026, following an upwardly revised 4.1% drop in January, marking a second consecutive month of contraction in the sector. Building activity remained the main drag, slipping 8.1%, though the pace of decline eased from 12.9% in the previous month. Output also fell at a softer pace for civil engineering (-1.9% vs -3.8%) and specialized construction activities (-0.1% vs -1.3%). Among major economies, output fell in Germany (-2.5% vs -6.8%), France (-3.5% vs -1.5%) and Spain (-10.2% vs 18.6%), while Italy recorded growth (1.4% vs -0.4%). On a monthly basis, construction output fell by 0.2%, after an upwardly revised 1.3% decrease in the prior month.