The end of the third quarter of 2016 saw a further monthly expansion in Irish construction activity, helped by quickening growth of new business. Rising workloads fed through to increases in purchasing activity and employment, while sentiment around the prospects for future growth remained strongly positive.
The Ulster Bank Construction Purchasing Managers’ Index® (PMI®) – a seasonally adjusted index designed to track changes in total construction activity – ticked up to 58.7 in September from 58.4 in August to signal a further sharp monthly increase in activity. Construction activity has risen continuously since September 2013.
Commenting on the survey, Simon Barry, Chief Economist Republic of Ireland at Ulster Bank, noted that: “Irish construction activity continues to grow at a very solid pace according to the latest results of the Ulster Bank Construction PMI. The headline PMI index edged higher in September with a reading of 58.7 signalling further rapid expansion last month.
All three sub-sectors posted an increase in activity as Civil Engineering saw a welcome return to growth last month, albeit at a weaker pace than the sharp rates of growth which continue to be reported in the Commercial and Housing areas.
This article was taken from Irish Construction