Growth in construction sector slowed again in May

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Activity in the construction sector continued to increase in May but at its slowest pace in more than a year, according to the latest Construction Purchasing Managers' Index from BNP Paribas Real Estate Ireland.

It represents the third consecutive month of slowing growth in the sector, as rising prices and declining sentiment impacts activity.

The survey suggests that much of the slowdown in growth was in the commercial construction sector, while civil engineering work continued to shrink. However the PMI also shows that the pipeline of new projects is waning, as new orders into the industry declined for the second month in a row.

 

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