BNP Paribas Real Estate Ireland Construction PMI ®
Demand and jobs New orders
New Orders Index sa, >50 = growth since previous month
New Orders Index Sep ‘22 - Feb ‘23
Irish construction firms registered a renewed uptick in the volume of new business received in February, thereby ending a ten-month sequence of decline. That said, the rate of growth was only slight. Panel members referenced strengthening project pipelines amid some relative improvement in underlying demand conditions. Employment February data was indicative of a back-to- back rise in staffing levels across Ireland's construction sector. Having picked up notably from January, the rate of job creation was strong and the most pronounced since last May.
0 10 20 30 40 50 60 70 80 '07 '09 '11 '13 '15 '17 '19 '21 '23
55
50
45
40
Employment Index sa, >50 = growth since previous month
Employment Index Sep ‘22 - Feb ‘23
20 25 30 35 40 45 50 55 60 65 70 '07 '09 '11 '13 '15 '17 '19 '21 '23
60
55
50
45
Business expectations
Confidence about output over the coming year strengthened further midway through the first quarter of 2023 and reached the highest level in a year. Firms were hopeful for general market improvements amid specific mentions of expanding project pipelines and increasing client interest. Around 35% of respondents predicted a rise in activity over the next 12 months, but with approximately 14% expecting a fall the overall degree of positive sentiment remained just below the long-run average.
Future Activity Index Sep ‘22 - Feb ‘23
Future Activity Index >50 = growth expected over next 12 months
20 30 40 50 60 70 80 90 '07 '09 '11 '13 '15 '17 '19 '21 '23
65
60
55
50
45
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