Property

Construction activity drops at sharpest rate this year, down 6%

Activity in the construction sector fell for the fifth consecutive month in November

A slowdown in the economy, the completion of projects and delays in decision making at client level were identified as factors leading activity to fall. Picture: Getty

Activity in the construction sector fell for the fifth consecutive month in November, according to new analysis by BNP Paribas, with housing output decreasing to the largest extent since April.

The headline BNP Paribas Real Estate Ireland Construction Total Activity Index - which tracks changes in the total volume of construction activity compared with one month previously - slipped further away from the crucial no-change 50.0 mark last month, posting 44.5.

This was down 6 per cent month-on-month, pointing to the most marked reduction in construction activity in 2023 so far.