Housebuilding activity contracts four months in a row

Irish construction firms began hiring for the first time in three months, albeit only marginally.

Housebuilding activity declined for the fourth month in a row in January as construction firms struggled to secure new orders despite a housing crisis, according to a new report.

The latest BNP Paribas Real Estate Ireland Construction Purchasing Managers’ Index (PMI) also showed builders continue to battle sharp input cost inflation as prices increased across a broad range of products. The outlook for the sector is optimistic.