BNP Paribas Real Estate Ireland Construction PMI ®
Demand and jobs New orders
New Orders Index sa, >50 = growth since previous month
New Orders Index Aug ‘22 - Jan ‘23
Once again, the level of new work received by Irish constructors fell in January, stretching the current sequence of falling order book volumes to ten months. Reportedly, the latest drop in orders was reflective of muted underlying demand conditions. The downturn, however, was only slight and the joint weakest since the sequence of reduction began last April.
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Employment Index sa, >50 = growth since previous month
Employment Index Aug ‘22 - Jan ‘23
Employment For the first time in three months, the
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seasonally adjusted Employment Index posted above the 50.0 mark of no-change in January to indicate a fresh rise in staffing numbers. That said, the rate of job creation in Ireland's construction sector was only marginal.
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Business expectations
Looking at their prospects for the year ahead, Irish construction firms remained upbeat. In fact, the degree of confidence was the strongest in almost a year. Reportedly, optimism was largely centred around hopes that market conditions would improve over the course of 2023. Calendars have also started to fill up with new projects scheduled to begin within the coming months. That said, the index remained historically subdued.
Future Activity Index Aug ‘22 - Jan ‘23
Future Activity Index >50 = growth expected over next 12 months
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