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.
The volume of production in Building and Construction rose by 0.9% in Quarter 3 (Q3) 2024 when compared with Q2 2024, on a seasonally adjusted basis.
On an annual basis, an increase of 4.5% was recorded in the volume of production in Building and Construction in Q3 2024.
The volume in the Residential Building sector was down 4.1% in Q3 2024 when compared with Q2 2024.
The seasonally adjusted volume index for the Non-Residential Building sector grew by 0.9% between Q2 2024 and Q3 2024.
Between Q2 2024 and Q3 2024, the seasonally adjusted volume index for the Civil Engineering sector rose by 2.4%.
The seasonally adjusted value index for All Building and Construction was up by 0.9% on a quarterly basis and up by 6.5% on an annual basis.
The headline table shows the seasonally adjusted volume and value indices for production in building and construction for Q3 2023, Q2 2024, and Q3 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 1.9% increase in Q3 2024 when compared with Q3 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 | ||
| Q3 2023 | 119.8 | 160.8 | |
| Q2 2024 | 124.1 | 169.8 | |
| Q3 2024 | 125.2 | 171.3 | |
| Quarterly % change | 0.9% | 0.9% | |
| Annual % change | 4.5% | 6.5% | |
Figure 1 shows the seasonally adjusted volume indices for All Building and Construction, Residential Building, Non-Residential Building, and Civil Engineering from Q3 2019 to Q3 2024.
Figure 2 shows the seasonally adjusted volume indices for Q3 2021, Q3 2022, Q3 2023, and Q3 2024.
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Statistician's Comment
The Central Statistics Office (CSO) has today (03 December 2024) published Production in Building and Construction Index Quarter 3 (Q3) 2024 (Provisional) and Quarter 2 (Q2) 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 0.9% between Q2 2024 and Q3 2024. On an annual basis, between Q3 2023 and Q3 2024, production volume increased by 4.5%.
Quarterly Volume Changes
On a seasonally adjusted basis the volume of production in construction was up by 0.9% between Q2 2024 and Q3 2024. During the same period, Non-Residential Building increased by 0.9%, while Residential Building was down by 4.1%. Separately, Civil Engineering grew by 2.4%.
Annual Volume Changes
Between Q3 2023 and Q3 2024, production volume in construction grew by 4.5%. During the same period, production volume in the Non-Residential Building sector rose by 5.7% and was up by 0.8% in the Civil Engineering sector, while production volume in Residential Building also showed an annual increase (+4.4%).
Value Index Changes
The seasonally adjusted value index for Building and Construction rose by 0.9% on a quarterly basis and by 6.5% on an annual basis. Excluding Civil Engineering, the seasonally adjusted value index grew by 2.0% on a quarterly basis and by 7.2% on an annual basis."