MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • Construction sector decline slows in March
Uncategorized
Apr 11, 2012 - 08:29

Construction sector decline slows in March

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Construction sector decline slows in March

The Ulster Bank Construction Purchasing Managers' index reveals that the construction sector continued to see a decline in activity levels in March.

But the rate of decline in activity slowed over the month, while new business was broadly unchanged. Cost inflation accelerated markedly last month, mainly due to higher fuel prices

The index saw activity rising to 46.7 in March from 45.8 in the previous month. A figure above 50 means activity grew, below 50 means activity fell.

The latest reading pointed to a further reduction in activity, albeit the slowest in 2012 to date. Construction companies linked the fall in activity to fragile confidence among clients.

Advertisement

However, the rate of decline in activity slowed over March, while new business was broadly unchanged. The index noted that cost inflation accelerated markedly last month, mainly due to higher fuel prices.

Meanwhile, business optimism was solid, and improved to the strongest since prior to the current downturn.

"The March results of the Ulster Bank Construction PMI survey show that Irish construction firms continue to experience outright declines in activity levels, as they have done in each month since June 2007,'' commented Simon Barry, Ulster Bank's chief economist.

Today's index shows that the slowest reduction in activity in March was again recorded in the commercial sector, although the rate of contraction quickened in March. Activity on civil engineering projects continued to fall substantially, while housing activity decreased at a broadly similar pace to that seen in February.

New orders were broadly unchanged in March, having declined solidly in the preceding month. Some firms indicated that small contracts had been secured during the month, but others indicated that a reluctance among clients to commit to projects had prevented a rise in new orders.

Advertisement

Workloads remained insufficient to generate a rise in employment in the sector during March, but staffing levels decreased at a rate that was much weaker than seen throughout much of the current downturn.

The rate of input cost inflation accelerated for the third consecutive month in March, and was the fastest since April 2011. Higher prices for fuel and other oil-related products were reported by panellists.

Business sentiment was at its highest since January 2007 in March and, as such, was the strongest since the current downturn in activity began (in June 2007). Exactly 46% of respondents predict that activity will increase over the next 12 months, with signs of improving economic conditions and a forecast rise in new orders supporting optimism.

''Each of the main sub-sectors continues to witness ongoing contraction, with civil engineering again recording the sharpest falls while housing also showed large-scale declines. Commercial activity is holding up in a relative sense, but indications of stabilisation in this area around the turn of the year have given way to renewed weakness as the index of activity fell to its lowest level since October 2011," Mr Barry added.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement