Irish Construction activity continued to decrease in May; Strongest optimism in thirty-eight months

Irish Construction activity continued to decrease in May as activity fell at a faster pace and, although the respective rates of decline in new business and employment both slowed in May, they remained sharp. Input costs in the sector increased for the first time in twenty-one months. The Ulster Bank Construction Purchasing Managers’ Index (PMI)  – - a seasonally adjusted index designed to track changes in total construction activity – - posted 40.0 in May, to signal a substantial decline in activity that was steeper than that seen in the previous month (42.5).

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