Contraction in Irish construction activity remained close to PMI survey record in November: Sharp input cost deflation posted
Dec 8th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Contraction in Irish construction activity remained close to survey record in November as Ulster Bank PMI (Purchasing Managers' Index) data pointed to a further sharp deterioration in conditions. Activity continued to contract markedly and input price deflation intensified. At 32.1 in November, theUlster Bank Construction Purchasing Managers’ Index (PMI) – a seasonally adjusted index designed to measure the overall performance of the construction economy – signalled a steep decline in activity, at a rate only slightly below October’s record fall. Activity has now fallen throughout the past year-and-a-half.