DUBLIN (dpa-AFX) - Ireland's construction sector deteriorated at the steepest pace in nearly three years in September amid sharper reductions in activity and new orders, survey results from S&P Global showed on Tuesday.
The seasonally adjusted AIB Ireland Construction Purchasing Managers' Index dropped to 43.7 in September from 45.9 in August. Any score below 50 indicates contraction in the sector. Moreover, the rate of decline was the fastest since December 2022.
Among three monitored categories, commercial activity logged the most pronounced decline since December 2023. Both housing and civil engineering activity also shrank sharply during September.
New orders fell further due to a wider economic slowdown and delays in decision-making by customers, along with a competitive pricing environment. As a result, employment also decreased after a six-month sequence of job creation.
On the price front, input price inflation eased to a 10-month low, and rates charged by subcontractors rose at the weakest pace in three months.
Looking ahead, construction firms remained positive about expected activity over the next year. Nonetheless, the degree of sentiment dropped and remained relatively muted.
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