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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone S&P Global Construction PMI fell to 43 in August 2026
FMPMonthlyReleased September 2026
Eurozone S&P Global Construction PMI fell to 43 in August 2026, released September 2026, down 1.3 from July's 44.3 reading. The reading matched the 44 consensus. Over the past 3 months, S&P Global Construction PMI averaged 43.55, vs 43.33 in the prior 3-month window.
Latest Release
43
Actual
44
Consensus
44.3
Previous
Median Absolute Error
±1.13
across last 5 releases
Last Call
Sep 2026
Predicted: 44.13
Actual: 43
Error: +1.13
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.50 | FOREX | Moves with | → View |
| EUR/JPY | ▲ Direct | +0.45 | FOREX | Moves with | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Construction PMI (European Union) was reported at 43.00 in August 2026. This missed the market consensus of 44.00 by 1.00. The reading fell from the previous value of 44.30.
WHY IT MATTERS
The trailing three releases averaged 43.37, down from the prior three at 44.10.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with EUR/JPY, positively correlated (Bullish EUR).
WHAT TO WATCH NEXT
The next release is scheduled for October 6, 2026. Same-country events in the next 14 days include Balance of Trade (Sep 15) and ZEW Economic Sentiment Index (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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S&P Global Construction PMI - EU
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About S&P Global Construction PMI — European Union
DEFINITION
The S&P Global Construction PMI is a widely recognized financial indicator that measures the performance of the global construction industry. It provides valuable insights into the current and future trends of the sector, including changes in output, new orders, employment, and business confidence. This indicator is used by investors, analysts, and policymakers to assess the health of the construction industry and make informed decisions. With its comprehensive coverage and timely updates, the S&P Global Construction PMI is an essential tool for understanding the state of the global economy.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 43, consensus 44. Prior reading (Jul 2026): 44.3. Before that (Jun 2026): 42.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with EUR/USD (Bullish EUR, r=0.50) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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Economic Calendar - EU Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:00 | EU | Balance of Trade | 8.6 | 3.7 | -0.70 | Medium | |
| 09:00 | EU | ZEW Economic Sentiment Index | 31.4 | 39.9 | 48.25 | Medium | |
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | EU | Industrial Production MoM | 0 | -0.4 | -0.50 | Medium | |
| 09:00 | EU | Industrial Production YoY | 0.1 | -0.3 | 0.70 | Low | |
| 09:00 | EU | Wage Growth YoY | 3.4 | 3.2 | 3.45 | Low | |
| 09:00 | EU | Labour Cost Index YoY | 3 | 3.2 | 3 | 2.98 | Low |