Construction activity continues to decline as costs increase

Continued economic uncertainty and input price hikes resulted in a sustained negative business sentiment during August.

The seasonally adjusted total activity index stood at 46.9 in August up from 41.8 the previous month. However, a score of under 50 represents a contraction in activity.

Irish construction activity continued to decline in August as new orders fell significantly while the rate of input cost inflation "remained pronounced", the latest report showed.

The BNP Paribas Real Estate Ireland Construction PMI showed that construction activity had fallen for a third successive month, demonstrating the impact of recent price rises.