Irish Construction Sector contracted rapidly in July as pessimism increased and cost inflation accelerated
Aug 11th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Irish construction sector recorded another substantial deterioration of operating conditions in July. The Ulster Bank Construction Purchasing Managers’ Index (PMI) – a seasonally adjusted index designed to measure the overall performance of the construction economy – posted 31.3, from June’s low of 29.4. The latest fall in construction activity was the fourteenth in successive months and largely reflected a shortage of new projects.