2023.12.1106:58:00UTC+00Irish Construction Downturn Deepens In November

The Irish construction sector contracted at its steepest pace this year so far amid weaker performances in both commercial and residential activity, survey results from S&P Global showed Monday.

The headline BNP Paribas Real Estate Ireland Construction Purchasing Managers' Index dropped to 44.5 in November from 47.3 in October.

Any score below 50 indicates contraction, while a reading above 50 suggests expansion in the sector.

A slowdown in the economy, the completion of projects, and delays in decision-making at clients were all factors leading activity to fall, the survey said.

Among monitored categories, housing activity fell the most in November, which decreased to the largest extent since April. The commercial activity logged a renewed fall in the middle of the final quarter.

Due to lower workloads, firms reduced their workforce numbers for the first time in almost a year. On the price front, input prices declined at the fastest pace since August.

On a more positive note, business confidence strengthened in November, as 32 percent of respondents predicted a rise in activity over the coming year.