Construction BUSINESS

Construction growth activity slows again for a second month

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Construction growth activity slows again for a second month

May 09
17:00 2016

contruction2After a record growth in February, construction growth activity in the construction sector has now eased back for both March and April.

The Ulster Bank Construction Purchasing Managers’ Index (PMI) – found the rate of expansion was the weakest since November 2015, down from 62.3 in March to 56.4 last month.

The monthly survey of participants in the sector is designed to measure changes in activity and sentiment.

The April reading indicates growth was slower across all three sub-sectors monitored housing, commercial and civil engineering.

Although the number of new orders was up, linked to the signing of new contracts, the rate of expansion eased.

A slower rise in employment was also registered while the use of sub-contractors dropped for the first time in more than a year.

The sharp rise in purchasing activity at Irish construction firms was attributed to higher numbers of new orders, but the rate of growth was the slowest in the year to date.

Simon Barry, Ulster Bank’s chief economist for the Republic of Ireland, said: “Irish construction activity continues to grow at a solid, albeit slower, pace.”

The slippage comes after seven-month highs were recorded in February.

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