法国HCOB建筑业采购经理人指数从9月份的42.9降至2025年10月的39.8，表明活动下降速度加快，并将该行业的衰退延长至41个月。所有三个受访类别在10月份再次下降，整体下降速度更快。住宅板块领跌，为6月以来最大跌幅，而商业和土木工程活动也面临重大压力。新订单和就业都出现了自2020年5月以来的最大收缩，反映出国内政治不稳定导致需求持续疲软。因此，建筑公司缩减了建筑材料的采购，这是近五年半来最大的降幅。在价格方面，投入成本通胀升至八个月高点，但仍低于调查的长期平均水平。最后，企业对前景仍持悲观态度，信心跌至11年来的最低水平。

The HCOB Construction PMI in France fell to 39.8 in October 2025 from 42.9 in September, signaling a faster pace of decline in activity and extending the sector's downturn to 41 months. All three surveyed categories declined again in October, with faster drops seen across the board. The residential sector led the decline with its steepest drop since June, while commercial and civil engineering activity were also under significant pressure. Both new orders and employment saw their sharpest contractions since May 2020, reflecting continued demand weakness amid domestic political instability. As a result, construction firms scaled back purchases of building materials, marking the joint-strongest reduction in almost five and a half years. On the price front, input cost inflation rose to an eight-month high, though it remained below the survey’s long-run average. Finally, firms remained pessimistic about the outlook, with confidence slipping to its lowest level in 11 years.