No clear path to recovery - economist (Il Sole 24 Ore Radiocor) - London, 04 Jul - In June, the eurozone's purchasing managers' index for the construction sector fell to 41.8 from 42.9 in May, according to data released by S&P Global and Hamburg Commercial Bank.

A reading below 50 signals contracting sector activity, while one above an expansion.

The rate of decline in output was also the second-strongest since mid-2020, surpassed only by that seen in January, according to a statement.

'The eurozone construction sector is stuck in a recession with no clear path to recovery. The HCOB PMI for June fell to 41.8. The setbacks in the three largest economies in the zone-Germany, France, and Italy-have been particularly severe this month," said Tariq Kamal Chaudhry, economist at Hamburg Commercial Bank.

"Subsector activity shows that residential construction remains the weakest, though there was a slight softening in the pace of decline compared to the previous month. The most significant negative correction from May occurred in civil engineering activity," he added.

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(RADIOCOR) 04-07-24 09:44:04 (0199) 5 NNNN