There was no sign of recovery in April as The Irish Construction PMI published by Ulster Bank posted another fall, declining to 45.4 in April, from 46.7 in March. This is the sharpest rate of decline in the sector since October 2011 and suggests archaeological activity in Ireland is continuing to fall. See true economics.
In my last blog post on archaeological licensing I noted that archaeological excavation licenses indicated that in 2011 archaeological activity in Ireland continued to contract for the fifth year. There was a reduction of 19.6% from 694 licenses in 2010 to 558 in 2011. There was also a reduction in the Central Statistics Office (CSO) Volume of Production Index in Building and Construction from 28.2 in 2010 to 23.5 in 2011 a drop of 16.7% . In 2011 there were just 15,932 planning permissions granted, a reduction of 15.4% from 2010. During this period there was also a reduction in GNP of 2.5% and a small increase in GDP of 0.7% with Irish GDP now standing at 161.0 Billion and GNP at 129.2 Billion.
I now plan to collect and analyse the archaeological licensing data on a quarterly basis so that it can be analysed with other data sources. As of 31 March 120 licenses had been issued by the National Monuments Service. This represents 21.5% of the total licenses issued in 2011. The quarterly results will not have analytical value until year on year comparisons can be made beginning in 2013. Other evidence, such as the reduction of 14% in building commencements in January and February 2012 compared to 2011 and noted in the National Housing Construction Index compiled and issued by Link2Plans.com, as well as the reduction in total construction activity in the Ulster Bank Construction Purchasing Managers Index (PMI) to 45.8 in February from 46.4 in December 2011 indicate that the construction and archaeological sectors continued to decline in the first quarter of 2012.
There was no sign of recovery in April as The Irish Construction PMI published by Ulster Bank posted another fall, declining to 45.4 in April, from 46.7 in March. This is the sharpest rate of decline in the sector since October 2011. See true economics.
Cite this post as:
Mount, C. Early indicators suggest that activity in the Irish archaeological and construction sectors continued to decline in the first quarter of 2012. The Charles Mount Blog, 4 April 2012. http://charles-mount.ie/wp/?p=773