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Financial News: Ireland Construction Growth At 29-Month Low

Ireland Construction Growth At 29-Month Low

09/11/2017 - 00:53:00 (RTTNews)

(RTTNews) - Ireland's construction activity expanded at the weakest pace in nearly two-and-a-half years in August, survey figures from IHS Markit showed Monday.

The Ulster Bank Construction Purchasing Managers' Index dropped to 55.1 in August from 56.6 in July. However, any reading above 50 indicates expansion in the sector.

Among the three monitored categories, housing was the best-performing sector in August. Activity on commercial projects grew at a reduced pace, while civil engineering sector registered a decline for the third straight month.

The rate of growth in new orders eased in August, though the latest increase was still substantial. In contrast to signs of slower growth in activity and new orders, employment increased at the fastest pace since April.

On the price front, input price inflation eased to a nine-month low in August as sterling weakness versus the euro led to reduced prices for items sourced from UK suppliers.

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