Housebuilding activity contracts sharply for third month running

Construction is in contraction territory due to challenging economic conditions which have hit market demand

The survey recorded a drop in activity across the three monitored categories of construction which are housing, commercial and civil engineering.

Housebuilding activity contracted sharply in December amid an escalating housing crisis, according to a new report.

The latest BNP Paribas Real Estate Ireland Construction Purchasing Managers’ Index (PMI) showed housing activity decreased for the third month running.