Construction activity growth seen as employment levels rise
Construction sector activity was at its strongest in seven months in January with job creation levels also rising for the third month running.
According to the Ulster Bank Construction Purchasing Managers’ Index (PMI), the construction industry in Ireland experienced its strongest expansion since June of last year.
The headline reading for the PMI was 63.6, up significantly from the reading of 58.6 in December of last year.
Ulster Bank’s chief economist for the Republic of Ireland, Simon Barry, said that the index represents a strong start to the year for the industry :
“The new orders and employment indices both also rose to seven-month highs in January indicating that the pace of overall activity, new business and hiring have all accelerated meaningfully in the early part of the New Year.”
All three elements of the construction sector, commercial, residential, and civil engineering activity all benefited from a strong start to the year.
