Construction declines in October with residential sector seeing biggest fall since June

Residential construction activity sees sharp decline during the month

The PMI said the decline in activity was in response to a reduction in new orders, while companies lowered their employment, purchasing and usage of sub-contractors.

The Irish construction sector saw a contraction during October with activity in the residential sector seeing the sharpest decline since June, the latest AIB Purchasing Managers Index (PMI) shows.

Last month, the sector’s PMI reading dropped to 48 — down from the 50.4 recorded in September. Any figure below 50.0 indicates a contraction in the sector.