CSO - Central Statistics Office Ireland

20/08/2024 | Press release | Distributed by Public on 21/08/2024 21:44

Production in Building and Construction Index Q2 2024 (Provisional) and Q1 2024 (Final)

Building and Construction output up 1.7% in Quarter 2 2024

Online ISSN: 2009-5228
CSO statistical publication, 20 August 2024, 11am

Advisory Note

Users should exercise caution when comparing the Production in Building and Construction Index release with the New Dwelling Completions release due to timing and other comparability issues. For example, while the work completed by a firm on a residential building could take place over several months, the New Dwelling Completions will only count the building as completed when it has been connected to the ESB electricity network.

Please see the Background Notes in both the Production in Building and Construction Index release and the New Dwelling Completions release for further information on methodologies.

Key Findings

  • The volume of production in Building and Construction rose by 1.7% in Quarter 2 (Q2) 2024 when compared with Q1 2024, on a seasonally adjusted basis.

  • On an annual basis, a decrease of 1.5% was recorded in the volume of production in Building and Construction in Q2 2024.

  • The volume in the Residential Building sector was down 1.3% in Q2 2024 when compared with Q1 2024.

  • The seasonally adjusted volume index for the Non-Residential Building sector grew by 5.3% between Q1 2024 and Q2 2024.

  • Between Q1 2024 and Q2 2024, the seasonally adjusted volume index for the Civil Engineering sector rose by 3.3%.

  • The seasonally adjusted value index for All Building and Construction was up by 4.6% on a quarterly basis and down by 0.7% on an annual basis.

Statistician's Comment

The Central Statistics Office (CSO) has today (20 August 2024) released Production in Building and Construction Index Quarter 2 (Q2) 2024 (Provisional) and Quarter 1 (Q1) 2024 (Final).

Commenting on the release, Shane O'Sullivan, Statistician in the Enterprise Statistics Division, said: "On a seasonally adjusted basis the volume of production in construction rose by 1.7% between Q1 2024 and Q2 2024. On an annual basis, between Q2 2023 and Q2 2024, production volume decreased by 1.5%.

Quarterly Volume Changes

On a seasonally adjusted basis the volume of production in construction rose by 1.7% between Q1 2024 and Q2 2024. During the same period, Non-Residential Building increased by 5.3%, while Residential Building was down by 1.3%. Separately, Civil Engineering grew by 3.3%.

Annual Volume Changes

Between Q2 2023 and Q2 2024, production volume in construction decreased by 1.5%. During the same period, production volume in the Non-Residential Building sector fell by 0.1% and was down by 6.8% in the Civil Engineering sector, while the only sector to show an annual increase was Residential Building (+8.1%).

Value Index Changes

The seasonally adjusted value index for Building and Construction rose by 4.6% on a quarterly basis and fell by 0.7% on an annual basis.Excluding Civil Engineering, the seasonally adjusted value index grew by 2.5% on a quarterly basis and by 0.3% on an annual basis."

Headline Table

The headline table shows the seasonally adjusted volume and value indices for production in building and construction for Q2 2023, Q1 2024, and Q2 2024. It should be noted that the deflator, the Capital Goods Price Index, used in the calculation of the Production in Building and Construction Index (PBCI) has increased over the past 12 months and shows a 0.5% increase in Q2 2024 when compared with Q2 2023. See Background Notes and the Wholesale Price Index release for more details. Further information on seasonal adjustment is available in the CSO's video on Seasonal Adjustment.

Seasonally Adjusted Production in Building and Construction Index
(Base Year 2015=100)
Volume Index Value Index
Q2 2023 123.2 168.1
Q1 2024 119.4 159.6
Q2 2024 121.4 167.0
Quarterly % change 1.7% 4.6%
Annual % change -1.5% -0.7%

Seasonally Adjusted Volume of Production in Building and Construction Indices

Figure 1 shows the seasonally adjusted volume indices for All Building and Construction, Residential Building, Non-Residential Building, and Civil Engineering from Q2 2019 to Q2 2024.

Figure 1: Seasonally Adjusted Volume of Production in Building and Construction Indices, Q2 2019 - Q2 2024

© Central Statistics Office, Ireland
https://data.cso.ie/table/BEQ04

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Seasonally Adjusted Volume of Production by Quarter and Type of Activity

Figure 2 shows the seasonally adjusted volume indices for Q2 2021, Q2 2022, Q2 2023, and Q2 2024.

Figure 2: Seasonally Adjusted Volume of Production by Quarter and Type of Activity

© Central Statistics Office, Ireland
https://data.cso.ie/table/BEQ04

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Table 1(a) Seasonally Adjusted Indices of Production in All Building and Construction
Table 1(a) Seasonally Adjusted Indices of Production in all Building and Construction1
Base Year: 2015=100
Value of Production Volume of Production
Period Index % change on previous period Annual % change Index % change on previous period Annual % change
2019 156.3 7.9 144.4 5.7
2020 144.0 -7.9 131.9 -8.7
2021 146.2 1.6 126.5 -4.1
2022 166.5 13.8 130.6 3.2
2023 166.9 0.2 124.4 -4.7
2019 1st quarter 152.7 1.5 10.9 140.4 -0.5 4.7
2nd quarter 153.4 0.5 6.4 142.1 1.2 5.9
3rd quarter 156.3 1.9 6.4 144.8 1.9 5.5
4th quarter 162.7 4.1 8.2 150.3 3.8 6.5
2020 1st quarter 172.2 5.8 12.8 158.7 5.6 13.0
2nd quarter 106.5 -38.2 -30.6 95.3 -39.9 -32.9
3rd quarter 145.7 36.8 -6.8 133.0 39.6 -8.1
4th quarter 151.5 4.0 -6.9 140.6 5.7 -6.5
2021 1st quarter 117.8 -22.2 -31.6 109.5 -22.1 -31.0
2nd quarter 145.5 23.5 36.6 122.8 12.1 28.9
3rd quarter 155.6 6.9 6.8 132.3 7.7 -0.5
4th quarter 166.0 6.7 9.6 141.3 6.8 0.5
2022 1st quarter 163.9 -1.3 39.1 134.2 -5.0 22.6
2nd quarter 168.2 2.6 15.6 131.0 -2.4 6.7
3rd quarter 169.4 0.7 8.9 130.0 -0.8 -1.7
4th quarter 164.4 -3.0 -1.0 127.0 -2.3 -10.1
2023 1st quarter 179.6 9.2 9.6 135.0 6.3 0.6
2nd quarter 168.1 -6.4 -0.1 123.2 -8.7 -6.0
3rd quarter 161.1 -4.2 -4.9 120.2 -2.4 -7.5
4th quarter 158.6 -1.6 -3.5 119.3 -0.7 -6.1
2024 1st quarter 159.6 0.6 -11.1 119.4 0.1 -11.6
2nd quarter2 167.0 4.6 -0.7 121.4 1.7 -1.5
1Based on Seasonal Patterns up to Quarter 2, 2024.
2Provisional indices based on early returns from respondents.

Table 1(b) Seasonally Adjusted Indices of Production in Building (excluding Civil Engineering)
Table 1(b) Seasonally Adjusted Indices of Production in Building (excluding Civil Engineering)1
Base Year: 2015=100
Value of Production Volume of Production
Period Index % change on previous period Annual % change Index % change on previous period Annual % change
2019 163.8 9.9 151.4 7.5
2020 152.9 -6.6 139.3 -8.0
2021 151.0 -1.2 130.7 -6.2
2022 173.4 14.8 136.0 4.0
2023 168.4 -2.8 125.5 -7.7
2019 1st quarter 157.9 2.6 11.0 144.6 1.5 5.2
2nd quarter 157.2 -0.4 5.6 149.1 3.1 5.0
3rd quarter 164.8 4.8 9.4 153.5 3.0 8.6
4th quarter 175.1 6.2 13.8 158.3 3.1 11.2
2020 1st quarter 183.1 4.6 16.0 163.4 3.2 13.0
2nd quarter 112.1 -38.8 -28.7 105.9 -35.2 -29.0
3rd quarter 154.2 37.6 -6.4 141.5 33.6 -7.8
4th quarter 162.2 5.2 -7.4 146.5 3.5 -7.5
2021 1st quarter 125.2 -22.8 -31.6 110.1 -24.8 -32.6
2nd quarter 143.4 14.5 27.9 130.6 18.6 23.3
3rd quarter 160.8 12.1 4.3 137.3 5.1 -3.0
4th quarter 174.7 8.6 7.7 144.9 5.5 -1.1
2022 1st quarter 171.9 -1.6 37.3 137.5 -5.1 24.9
2nd quarter 174.2 1.3 21.5 140.6 2.3 7.7
3rd quarter 175.1 0.5 8.9 134.9 -4.1 -1.7
4th quarter 172.2 -1.7 -1.4 130.8 -3.0 -9.7
2023 1st quarter 184.5 7.1 7.3 135.4 3.5 -1.5
2nd quarter 167.1 -9.4 -4.1 125.6 -7.2 -10.7
3rd quarter 161.8 -3.2 -7.6 121.6 -3.2 -9.9
4th quarter 160.3 -0.9 -6.9 119.2 -2.0 -8.9
2024 1st quarter 163.5 2.0 -11.4 119.4 0.2 -11.8
2nd quarter2 167.6 2.5 0.3 124.5 4.3 -0.9
1Based on Seasonal Patterns up to Quarter 2, 2024.
2Provisional indices based on early returns from respondents.

Table 1(c) Seasonally Adjusted Indices of Production in Civil Engineering
Table 1(c) Seasonally Adjusted Indices of Production in Civil Engineering1
Base Year: 2015=100
Value of Production Volume of Production
Period Index % change on previous period Annual % change Index % change on previous period Annual % change
2019 122.3 -2.4 113.1 -4.5
2020 105.2 -14.0 96.1 -15.0
2021 124.2 18.0 107.4 11.8
2022 135.0 8.7 105.8 -1.6
2023 159.4 18.1 118.9 12.4
2019 1st quarter 124.8 -10.0 3.7 115.4 -10.8 -1.7
2nd quarter 130.9 4.9 17.7 121.5 5.3 16.6
3rd quarter 117.3 -10.4 -10.3 109.0 -10.3 -11.0
4th quarter 116.2 -0.9 -16.2 106.4 -2.4 -17.8
2020 1st quarter 132.1 13.7 5.8 120.4 13.2 4.3
2nd quarter 67.4 -49.0 -48.5 61.7 -48.8 -49.2
3rd quarter 105.8 57.0 -9.8 96.8 56.9 -11.2
4th quarter 115.4 9.1 -0.7 105.5 9.0 -0.8
2021 1st quarter 99.7 -13.6 -24.5 90.4 -14.3 -24.9
2nd quarter 125.4 25.8 86.1 110.2 21.9 78.6
3rd quarter 131.6 4.9 24.4 112.0 1.6 15.7
4th quarter 139.9 6.3 21.2 117.1 4.6 11.0
2022 1st quarter 127.7 -8.7 28.1 104.4 -10.8 15.5
2nd quarter 129.4 1.3 3.2 102.4 -1.9 -7.1
3rd quarter 143.2 10.7 8.8 109.7 7.1 -2.1
4th quarter 139.7 -2.4 -0.1 106.5 -2.9 -9.1
2023 1st quarter 160.3 14.7 25.5 120.1 12.8 15.0
2nd quarter 164.3 2.5 27.0 122.2 1.7 19.3
3rd quarter 156.8 -4.6 9.5 116.8 -4.4 6.5
4th quarter 156.2 -0.4 11.8 116.3 -0.4 9.2
2024 1st quarter 148.6 -4.9 -7.3 110.3 -5.2 -8.2
2nd quarter2 154.0 3.6 -6.3 113.9 3.3 -6.8
1Based on Seasonal Patterns up to Quarter 2, 2024.
2Provisional indices based on early returns from respondents.

Table 2(a) Seasonally Adjusted Indices of Production in Residential Building
Table 2(a) Seasonally Adjusted Indices of Production in Residential Building1
Base Year: 2015=100
Value of Production Volume of Production
Period Index % change on previous period Annual % change Index % change on previous period Annual % change
2019 173.4 15.2 160.3 12.6
2020 137.8 -20.5 125.9 -21.5
2021 127.7 -7.3 110.2 -12.5
2022 148.0 15.9 116.2 5.4
2023 140.0 -5.4 104.4 -10.1
2019 1st quarter 159.1 7.1 4.9 147.3 6.4 -0.3
2nd quarter 170.0 6.9 11.7 158.3 7.5 10.3
3rd quarter 178.5 5.0 19.4 165.5 4.5 18.6
4th quarter 185.9 4.1 25.2 169.9 2.7 22.7
2020 1st quarter 176.8 -4.9 11.1 161.3 -5.1 9.5
2nd quarter 88.2 -50.1 -48.1 80.8 -49.9 -49.0
3rd quarter 143.7 62.9 -19.5 131.4 62.6 -20.6
4th quarter 142.3 -1.0 -23.5 129.9 -1.1 -23.5
2021 1st quarter 82.5 -42.0 -53.3 74.9 -42.3 -53.6
2nd quarter 121.4 47.2 37.6 106.7 42.5 32.1
3rd quarter 151.2 24.5 5.2 128.9 20.8 -1.9
4th quarter 155.8 3.0 9.5 130.2 1.0 0.2
2022 1st quarter 152.2 -2.3 84.5 124.4 -4.5 66.1
2nd quarter 152.0 -0.1 25.2 120.2 -3.4 12.7
3rd quarter 142.4 -6.3 -5.8 109.5 -8.9 -15.1
4th quarter 145.4 2.1 -6.7 110.5 0.9 -15.1
2023 1st quarter 143.7 -1.2 -5.6 107.5 -2.7 -13.6
2nd quarter 139.1 -3.2 -8.5 103.5 -3.7 -13.9
3rd quarter 134.7 -3.2 -5.4 100.9 -2.5 -7.9
4th quarter 142.3 5.6 -2.1 105.7 4.8 -4.3
2024 1st quarter 153.1 7.6 6.5 113.4 7.3 5.5
2nd quarter2 151.3 -1.2 8.8 111.9 -1.3 8.1
1Based on Seasonal Patterns up to Quarter 2, 2024.
2Provisional indices based on early returns from respondents.

Table 2(b) Seasonally Adjusted Indices of Production in Non-Residential Building
Table 2(b) Seasonally Adjusted Indices of Production in Non-Residential Building1
Base Year: 2015=100
Value of Production Volume of Production
Period Index % change on previous period Annual % change Index % change on previous period Annual % change
2019 162.5 9.0 150.2 6.8
2020 154.7 -4.8 141.5 -5.8
2021 155.9 0.8 134.7 -4.8
2022 177.1 13.6 138.7 3.0
2023 172.0 -2.9 128.3 -7.5
2019 1st quarter 159.2 2.8 14.0 147.0 1.4 8.6
2nd quarter 152.0 -4.5 1.6 141.0 -4.1 0.5
3rd quarter 164.7 8.4 8.6 153.3 8.7 8.0
4th quarter 173.9 5.6 12.3 159.5 4.0 10.0
2020 1st quarter 181.4 4.3 13.9 164.8 3.3 12.1
2nd quarter 115.5 -36.3 -24.0 105.4 -36.0 -25.2
3rd quarter 157.7 36.5 -4.3 145.1 37.7 -5.3
4th quarter 164.1 4.1 -5.6 150.6 3.8 -5.6
2021 1st quarter 133.6 -18.6 -26.4 119.8 -20.5 -27.3
2nd quarter 149.1 11.6 29.1 130.6 9.0 23.9
3rd quarter 164.4 10.3 4.2 140.8 7.8 -3.0
4th quarter 176.4 7.3 7.5 147.6 4.8 -2.0
2022 1st quarter 174.5 -1.1 30.6 142.5 -3.5 18.9
2nd quarter 176.5 1.1 18.4 139.5 -2.1 6.8
3rd quarter 183.1 3.7 11.4 140.7 0.9 -0.1
4th quarter 174.4 -4.8 -1.1 132.1 -6.1 -10.5
2023 1st quarter 187.5 7.5 7.4 141.1 6.8 -1.0
2nd quarter 172.4 -8.1 -2.3 128.3 -9.1 -8.0
3rd quarter 167.7 -2.7 -8.4 125.3 -2.3 -10.9
4th quarter 160.2 -4.5 -8.1 118.4 -5.5 -10.4
2024 1st quarter 163.5 2.1 -12.8 121.8 2.9 -13.7
2nd quarter2 173.2 5.9 0.5 128.2 5.3 -0.1
1Based on Seasonal Patterns up to Quarter 2, 2024.
2Provisional indices based on early returns from respondents.