Construction Rebounds but Housing Lags as Consumers Hunt for Value

Ireland's construction sector staged a sharp rebound in July, with the AIB PMI jumping to 53.0 from June's 45.4 – its strongest reading in months and comfortably above the growth threshold. Commercial building led the charge, with the sub-index hitting 53.6, while civil engineering also showed signs of life at 51.7. The recovery is broadening, with activity rising for four consecutive months and firms continuing to hire.

The Bear Case

The good news stops...