Fastest growth in Construction PMI since November 2004

24 Aug , 2015  

Irish construction’s recovery was evident in June, according to figures released in the latest Construction Purchasing Managers Index from Ulster Bank.

The index, which is designed to track changes in total construction activity, rose to 65.7 in June from 63.3 in the previous month

This is the fastest rate of growth seen by the survey since November 2004.

This growth stems from improved market confidence and a rise in new business. Job creation has accelerated while there is sharp growth in commercial projects.

Ulster Bank economist Simon Barry said that exceptionally strong performances were recorded in Housing and Commercial, while more moderate growth was seen in Civil Engineering.

“There was also a very strong improvement in new business levels which, combined with stronger activity trends generally, have underpinned another very solid month for employment where growth was as its fastest pace since last October,” commented Barry.

“Overall, following a notable slowdown in the early months of the year, there has been a marked re-acceleration in the pace of construction activity through the second quarter, thus offering considerable encouragement regarding the sector’s momentum as we enter the second half of the year.”