Financial News: Ireland Construction Sector Stabilizes In August

Ireland Construction Sector Stabilizes In August

09/09/2024 - 07:55:00 (RTTNews)

(RTTNews) - Ireland's construction sector stabilized midway through the third quarter, survey results from S&P Global showed on Monday.

The BNP Paribas Real Estate Ireland construction Purchasing Managers' Index posted 50.0 in August, up from 49.9 in July.

The commercial category posted the first growth in three months. Meanwhile, housing activity was broadly stable after a five-month sequence of expansion.

New orders continued to increase but the pace of growth moderated from the 29-month high seen in July.

Meanwhile, firms reported a fall in employment, thereby ending an eight-month sequence of job creation. The solid fall was the most pronounced in almost three-and-a-half years.

On the price front, the survey showed that input costs continued to rise sharply and the rate of inflation remained above the series average despite easing to a three-month low.

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