No, the constructor of the parent class is not called if the child class defines a constructor.
From the constructor of your child class, you have to call the constructor of the parent's class :
parent::__construct();
Passing it parameters, if needed.
Generally, you'll do so at the beginning of the constructor of the child class, before any specific code ; which means, in your case, you'd have :
class Child extends Base {
    function __construct() {
        parent::__construct();
        echo 'Child __construct<br/>';
    }
}
And, for reference, you can take a look at this page of the PHP manual : Constructors and Destructors -- it states (quoting) :
  Note:  Parent constructors are not called implicitly if the child class
  defines a constructor. 
In order to
  run a parent constructor, a call to
  parent::__construct() within the
  child constructor is required.