The Irish construction sector’s strong start to the year continues, with the latest Ulster Bank construction purchasing managers’ index (PMI) showing a sharp increase in activity and new orders, and a faster pace of job creation.
The sector is benefiting from a pick-up in housebuilding in urban areas, including Dublin, where demand for homes outstrips supply.
While the latest PMI eased back from an eight-month high in January to 59.2 last month, it was still well above the 50 mark that separates expansion from contraction.
Activity has now risen continuously for the past 4½ years. The latest expansion was linked by panellists to improving market conditions generally and greater client activity.
The swiftest expansion was in the area of housing projects, where the rate of growth quickened for the fourth consecutive month. Commercial activity was also up, while a more modest increase was seen for civil engineering sector.
Article courtesy of Irish Times