A Government-appointed expert group has warned about the impact of “excessive cost inflation” in the construction sector, which it describes as a “key risk” for 2019.
Activity in the construction sector contracted for the the first time in over six years in September, Ulster Bank’s latest Purchasing Manager’s Index reveals.
Overall construction activity has increased by 2.8% in Quarter 2 2019 but Civil Engineering has seen the largest increase with a rise of 21.0% in the seasonally adjusted volume index.
The Society of Chartered Surveyors Ireland Tender Price Index Report has forecasted a national increase of 3.35% for the first 6 months of 2019. The report also highlights a slowing of tender inflation for the first time since early 2017. This will bring construction prices back to peak 2007 levels.