Financial News: Irish Construction Downturn Deepens In April

Irish Construction Downturn Deepens In April

05/15/2023 - 03:15:00 (RTTNews)

(RTTNews) - Ireland's construction activity contracted at the steepest pace in three months amid slower rises in new orders, employment, and input buying, survey results from S&P Global showed Monday.

The headline BNP Paribas Real Estate Ireland Construction Purchasing Managers' Index dropped to 48.4 in April from 49.5 in March.

The reading has remained below the neutral 50.0 mark for the seventh successive month, suggesting contraction in the construction sector.

In April, construction activity was weighed down by a general slowdown in market demand. Nonetheless, new orders showed a further increase, though only marginally.

Housing activity declined at a faster rate in April, while commercial activity grew from the previous month.

Construction companies added to their workforce numbers in April, although the rate of job creation was the weakest in the current four-month sequence. Similarly, firms increased their buying activity in April, but at the slowest pace in three months.

On the price front, input cost inflation rose slightly in April, ending a downward trend that had been pronounced since its peak in October 2021.

Firms remained positive in their projections for output over the coming year amid hopes for a pick-up in development activity.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Slovakia Industrial Production, Trade Surplus Decline (12 min(s), 32 sec(s) ago)
(RTTNews) - Slovakia's industrial production declined in April, data from the Statistical Offi ...Full Story»

Turkey Industrial Production Contracts 1.2% (31 min(s), 32 sec(s) ago)
(RTTNews) - Turkey's industrial production declined in April after rebounding in the previous ...Full Story»

Swedish Economy Stagnates; Industrial Output Growth Accelerates (58 min(s), 32 sec(s) ago)
(RTTNews) - Sweden's economy remained unchanged in April after contracting in the previous two ...Full Story»

Russia Central Bank Signals Rate Hikes Ahead (29 min(s), 32 sec(s) ago)
(RTTNews) - The Bank of Russia left its key interest rate unchanged again on Friday but the forwar ...Full Story»

Finland Industrial Output Declines In April (41 min(s), 32 sec(s) ago)
(RTTNews) - Finland's industrial production logged a notable decline in April, figures from St ...Full Story»

Greece Inflation Eases Slightly To 2.8%, Lowest In 20 Months (12 min(s), 32 sec(s) ago)
(RTTNews) - Greece's consumer price inflation eased further in May to the lowest level in more ...Full Story»

Italy's Industrial Output Logs Steepest Fall In 7 Months (38 min(s), 32 sec(s) ago)
(RTTNews) - Italy's industrial production declined for the fourth successive month in April an ...Full Story»

Philippine Jobless Rate Falls To 4-Month Low (16 min(s), 32 sec(s) ago)
(RTTNews) - The Philippines' unemployment rate dropped for the second straight month in April ...Full Story»