"The latest indicator of a problem in the construction sector comes in a report showing construction activity has fallen at its fastest pace since the end of 2022. The AIB Purchasing Managers' Index (PMI) survey shows sharper falls in total activity and new business; staffing levels being down for the first time in seven months; and the slowest rise in costs since this time last year."
"Such surveys are closely watched as a key indicator of activity in the economy as monthly indicators of economic trends. The report looks at new orders, production, employment, deliveries and inventories. It's a stocktake of how activity is going in the companies. Financial markets, business decision-makers and regulators all monitor it to get up-to-date, accurate and unique data, which helps everyone see where the economy is headed."
The AIB Purchasing Managers' Index (PMI) shows construction activity declined at its fastest rate since late 2022, with sharper falls in total activity and new business. Staffing levels fell for the first time in seven months and cost inflation slowed to its weakest rise since last year. Housing work decreased for the fifth consecutive month in September. New orders, production, employment, deliveries and inventories weakened. Anecdotal evidence pointed to a wider economic slowdown, delayed customer decisions and price-sensitive new orders. Job creation has slowed and unemployment is edging up despite steady overall growth and strong tax receipts. Budget 2026 increases capital spending but project prioritisation remains slow; a VAT reduction for apartments aims to improve developer viability.
Read at Irish Independent
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