There has been considerable growth in the Irish Construction industry within the last few months as construction activity reached a four month high in December 2018. Irish firms experienced faster rates of expansion throughout the month, with new orders continuing to rise, suggesting the trend will continue in 2019.
The latest Ulster Bank Construction Purchasing Managers’ Index (PMI), which follows the sector’s performance every month, reached 56.3 in December, up from 55.5 the previous month.
This follows the good news regarding employment within Irish construction, which has increased for the 64th successive month in December and at quicker pace than November.
Looking ahead to this year, it is forecasted that growth in construction will increase by 20%, 2.3% higher than 2018 which brought output to €20 billion.
When asked about the industry, O’Neill & Brennan Director Martin Callan said ‘There has been steady growth in the eastern region for 4 years now with further major projects due to start in 2019.
Demands for staff & skilled operatives is strong and only going to increase, which will undoubtedly outstrip resources currently available in the region. The most buoyant sector currently is commercial developments. There is no doubt that there will be great and exciting opportunities within the industry for competent people.’
In terms of regional growth within Ireland, Martin Callan added that ‘Munster & the South of Ireland has experienced a slower but consistent growth since beginning of 2017 and the pharmaceutical sector has most of the larger contracts currently ongoing’. In Martin’s opinion, although the West however has been comparatively quiet, ‘this area is set to increase construction output in 2019. ‘
As a respected player in the construction industry for over 25 years, we are happy to say that O’Neill & Brennan are and will be involved in many of the highest profile construction projects in Ireland. If you are interested in working within the Construction industry, or are in need of resource for your projects, please call +353 1 456 9899