There are renewed signs of momentum in the construction sector, the latest Purchasing Managers' Index from BNP Paribas Real Estate Ireland indicates. The survey captured a marked expansion in new orders in July which was the sharpest since February 2022.
The seasonally adjusted Total Activity Index registered at 49.9 in July. The reading was up from 47.5 in June and signaled a near-stabilisation in activity in the month.
John McCartney, Director & Head of Research at BNP Paribas Real Estate Ireland and author of the report said, "The increased activity indicated by the PMI points to stronger output ahead - although it may be 2025 before the recent surge in early-stage construction yields a material uplift in completions."
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