Irish Construction Activity Contracts In September

(RTTNews) - Ireland's construction sector deteriorated in September amid a decline in commercial activity, survey results from S&P Global showed on Monday.

The BNP Paribas Real Estate Ireland construction purchasing managers' index dropped to 49.0 in September from 50.0 in August. Any score below 50 indicates contraction in the sector.

Among sub-categories, commercial activity returned to contraction after recovering in the previous month. Meanwhile, housing activity rebounded, and residential projects continued to expand.

New business received by Irish construction firms increased for the seventh straight month on the back of improving client demand and the sign-off on projects that had been priced in previous months. As a result, employment increased slightly after falling in August.

Price increases remained sharp in September amid general inflationary pressures on materials and higher wages. Nonetheless, the rate of input price inflation eased to the lowest since January.