Building activity falls for fifth month in a row, including residential
Building activity, including residential construction, has declined for a fifth month in a row, a monthly survey by AIB has shown.
The bank’s sampling of purchasing managers in the construction sector indicated there were falls across housing, commercial and civil engineering.
The survey said that a continuing downturn in the sector had gathered pace in September.
It showed sharper reductions in activity and new orders by businesses, while employment decreased for the first time in seven months.
AIB Senior Economist John Fahy said: “Residential construction activity contracted for a fifth successive month, albeit at a marginally slower pace compared to the previous month.
“Meanwhile, the commercial sector remained in contraction territory for a second month running, with the pace of decline accelerating.”
He added: “Civil engineering continued to report the sharpest falls in activity, with the pace of contraction at its most pronounced since October 2022.”
He said that new orders, viewed as a leading indicator of activity, also “paints a weak backdrop for the sector.”
Meanwhile, approved housing body Respond will complete almost 1,000 new social and cost rental units this year, it has announced.
The organisation said this would be its highest annual output to date.
It is currently building 3,458 homes across Ireland.
Respond spokesperson Niamh Randall said: “It is critical we are enabled to continue to deliver homes now and into the future to meet Government targets and addressing urgent housing need.”
The organisation said projects it had completed during the year included 334 social and cost rental homes at Seven Mills in Dublin, 18 social homes in Blackpool in Cork and 97 social homes in Drogheda, Co Louth.
Article Source – Building activity falls for fifth month in a row, including residential