Irish Construction March PMI shows considerable deterioration in operating conditions; Jobs were cut at series-record pace during month
Apr 14th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
March data pointed to a further considerable deterioration in operating conditions within the Irish construction sector. Jobs were cut at a series-record pace during the month. The Ulster Bank Construction Purchasing Managers’ Index (PMI) – a seasonally adjusted index designed to measure the overall performance of the construction economy – posted 28.1 in March, signalling a similarly steep reduction in activity amongst Irish constructors as was seen in February. Activity contracted at the third fastest pace since data were first collected in June 2000 as new orders fell.