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Slower growth in construction output

Written by Robert McHugh, on 31st Jul 2015. Posted in General

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Savills yesterday claimed that there has been a significant slowdown in the rate of investment growth despite the current strength of the Irish economy.
 
They have referenced the latest figures which show that capital formation grew by 4% in the first quarter, the first time investment growth has dropped to single digit levels since the third quarter of 2013.
 
Director of Research at Savills, Dr. John McCartney said, "The slowdown in investment is not entirely surprising given the relatively sluggish 3.3% growth in construction output during the opening three months of the year.  Indeed, this has been evident on the ground with very sluggish residential completions. 

"However, while housing supply will remain a major issue we expect overall construction output to improve as the year goes on. The construction sector PMI has shown a significant pick between April – June and there is currently just under 130,000 sq m of new office development and refurbishment works ongoing."

Source: www.businessworld.ie

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