November Irish construction sector PMI data indicated that operating conditions in the Irish construction sector deteriorated more sharply than in the previous month. Rates of decline in activity, new orders and employment all accelerated and firms were pessimistic regarding the twelve-month outlook for activity. The Ulster Bank Construction Purchasing Managers’ Index (PMI) — a seasonally adjusted index designed to measure the overall performance of the construction economy – - dropped slightly to 34.2 in November, from 34.5 in the preceding month, to signal a sharper contraction of activity. According to respondents, falling new business was the main cause of the latest reduction.
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