Italy Construction Output Extends Rebound 📈
Construction output in Italy grew by 3.4% year-over-year in October 2024, accelerating from the previous month's upwardly revised 1.8% increase and reversing the 0.7% contraction in August, the first decline since January 2021.
The strong growth in Italian construction output, particularly the sharp 1.6% monthly increase, suggests a rebound in the sector and could have a moderately positive impact on the portfolio. The exposure to European and Italian markets, as well as construction-related companies like Societe Generale and BNP Paribas, could benefit from this positive trend in the construction industry.
Euro Area Construction Rebounds 📈
Construction output in the Euro Area edged higher by 0.2% year-over-year in October 2024, marking the first period without contraction in Eurozone construction since January, driven by rebounds in the construction of buildings and civil engineering activity.
The increase in Eurozone construction output, particularly in the construction of buildings and civil engineering, suggests an improvement in economic activity and investment in the region. This is likely to have a moderately positive impact on the investment portfolio, which includes exposure to European and global equity markets through the S&P 500, European market, and MSCI World positions.