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Financial News: Ireland Construction Downturn Continues In December

Ireland Construction Downturn Continues In December

01/15/2024 - 01:58:00 (RTTNews)

(RTTNews) - Ireland's construction activity deteriorated for the sixth straight month in December, survey results from S&P Global showed on Monday.

The headline BNP Paribas Real Estate Ireland Construction Purchasing Managers' Index rose to 45.1 in December from 44.5 in November. However, any score below 50 indicates contraction.

Among monitored categories, commercial activity logged the sharpest contraction in December, and activity on housing projects also fell markedly.

On a positive note, employment returned to growth in December after falling in the previous eleven months.

On the price front, overall expenses increased markedly in December due to higher charges by suppliers, though price inflation has eased since November.

Business confidence rose to a seven-month high amid some hopes that new contracts will be secured in the new year.

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