Europe’s fragile construction sector recovery starts 2026 with a wobble

Neil Gerrard Senior Editor, Construction Briefing

06 February 2026

Construction in Warsaw, Poland (Image: Danuta Hyniewska via AdobeStock) Construction in Warsaw, Poland (Image: Danuta Hyniewska via AdobeStock)

2026 is supposed to be the year that the European Union’s (EU) construction sector finally exits a prolonged slump but the latest survey of Eurozone construction buyers has underlined the fragility of that recovery.

After a cheery end to 2025, when buyers reported that the contraction in construction activity in the Eurozone was slowing, they have issued a gloomier verdict on January 2026.

The Hamburg Commercial Bank (HCOB) Eurozone Construction PMI Total Activity Index fell from 47.4 in December (where a score below 50.0…

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