A global recession is on the horizon - please read OP for mod warning

But there is/was higher than normal demand, according to the industry leaders.

Construction supplies demand has absolutely fallen off a cliff the last month

Anyway the OP claimed demand has nose dived, whatever about constraints this would lead to lower prices and more availability.

I asked what the source was for this, the question remains unanswered and not something I have seen myself.

The traditional builders holidays kicked in Friday so demand would reflect this.

There has definitely been a contraction but that would be natural give it went hyper sonic, this would be more in the commercial sector largely down to work from home policies ironically, the domestic sector is still rumbling on. Again that's according to the industry, not my opinion.

But working in the construction supply sector are you saying demand in your area is down 70-80-90%? How do you quantify "falling off a cliff"?

This was before the builders holidays, Some main building products down over 55% on this time last year, and down 33% on 2019 levels for same summer period, maybe falling off a cliff a bit too hard but anything over a 50% YOY is a sharp decline. To be fair up until May it was quite buoyant, so thats why I would be fearful of this sudden drop in demand.

33% drop on demand from 2019 although we are on target to at least build 30% more this year.

Something not making sense there.

Ireland are in the top 5 for years as an Open Economy to do business in, so we are certainly going to feel the global recession.

I would fear for Dublin city centre especially if the tech companies layoff people. Alot of these workers are foreign and will just emigrate as did the foreign workers in the construction sector after the celtic tiger burst. Alot of high wage professionals leaving dublin could put pressure on the high cost of living there too. My own opinion is that maybe Dublin city needs abit of manners put on it, extreme greed and gougery going on since 2016

Anybody on PCP car finance I money becomes tight will find it hard to fork out the cash for the balloon payment after the 3 years or upgrade, VW Bank maybecome under pressure who knows, people forfeiting PCP mostly diesel cars that in the future will have no resale vale as they are being phased out, what will VW bank do with a 3 year old diesel car with no value - me thinks ship it too some developing country like India and to hell with pollution.

Certainly the optics are not good, will be interesting to see what the earnings reporting will be like for these tech companies.

Household balance sheets are strong, so even if there is a recession, the impact should not be as bad as 2008/2009

Household debts have fallen.

Household deposits have risen.

144 bn on deposit.

do saving rates represent non savers? ...and what about the fact private debt globally, is now at an even higher rate than 08 levels, particularly at the corporate level, again, baring in mind, it was ultimately private debt that triggered 08?