Ireland Ulster Bank Construction PMI2013-2020 Data | 2021-2022 Forecast | Calendar

The Ulster Bank Construction PMI in Ireland was at 19.9 in May 2020, up from a record low of 4.5 in April, amid the easing of coronavirus-led restrictions. Activity across three broad categories shrank at softer paces: housing (21.4 vs 4.9 in April), commercial (25.6 vs 3.1), and civil engineering (14.9 vs 5.2). Meanwhile, new orders fell for the third month running, with the rate of contraction easing from April. Also, both employment and buying activity dropped for the third month in a row. The rate of job cuts was slightly softer than those seen at the global financial crisis, but input buying was down at a pace unseen prior to the outbreak. Suppliers' delivery times continued to lengthen, due to vendors either being closed or operating at reduced capacity. Prices data showed input prices rose slightly following a first reduction in more than 6-1/2 years in April, but the rate of inflation was well below the series average. Finally, sentiment remained downbeat.

The Ulster Bank Construction PMI in Ireland plunged to 4.5 in April 2020, down from 28.9 in the previous month and by far the lowest since the survey began in June 2000, due to the COVID-19 pandemic and lockdown introduced to prevent its spread. There was a sharp contraction in all categories: housing activity (4.9 vs 32.4 in March); commercial activity (3.1 vs 28.2); and and civil engineering works (5.2 vs 25.2). Overall new orders and employment fell the most since the survey began 20 years ago. Meanwhile, suppliers' delivery times lengthened at a record pace. On the price front, input cost fell for the first time since August 2013, and at the fastest pace in over a decade. Finally, construction firms remained pessimistic regarding the 12-month outlook for output amid expectations that the impact on the economy of COVID-19 would be prolonged.

The Ulster Bank Construction PMI plunged to 28.9 in March 2020 from 50.6 in the previous month, pointing to the sharpest contraction in the sector in 11 years due to coronavirus outbreak and associated containment measures. Civil engineering activity saw the steepest rate of decline, followed by commercial building work and residential activity. Overall new orders fell the most since April 2009 due to the cancellation of projects and company shutdowns, and employment dropped at the fastest pace in over nine years, ending a 6-1/2 year sequence of job creation. At the same time, suppliers' delivery times lengthened the most since the survey began almost 20 years ago. On the price front, input cost inflation eased to a six-month low, amid shortages of materials. Looking ahead, business sentiment hit its lowest since January 2009.

The Ulster Bank Construction PMI dropped to 50.6 in February 2020 from 50.9 in January. The latest reading pointed to the 3rd straight expansion in the construction sector but the weakest in the current sequence, as commercial activity increased at a softer pace (52.1 vs 55.7 in January) while both housing activity (49.7 vs 48.0) and civil engineering (42.7 vs 44.4) declined less. New orders increased for the 3rd month but at a softer pace. Meantime, employment grew the least since last October, though the growth was sustained in each month throughout the past 6-1/2 years. Average lead times lengthened markedly, and to the greatest extent for seven months, generally reflected stormy weather but there were some incidences of delays caused by the outbreak of coronavirus in China. On the price front, input cost inflation accelerated to a three-month high, amid higher prices for raw materials. Lastly, sentiment eased from January's one-year high.