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Innovation is key to help an industry now facing into a ‘perfect storm’

Paul McNeive


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The BNP Paribas Real Estate Ireland Construction PMI report tells us that June saw the first reduction in construction activity since pandemic restrictions were lifted. Most of the contraction is in the commercial property sector and largely reflects the effect of rapid cost inflation.

A contraction in activity isn’t surprising when one considers the “perfect storm” of current issues. The State introduced a welcome scheme to cover up to 70pc of exceptional inflation, but this applies to public sector contracts only.


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