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11/01/2016
Surge In Activity In Ireland's Construction Sector
The growth in Ireland's construction sector has reached a five-month high following a surge in activity in December, it has been reported.
According to the latest Ulster Bank Construction Purchasing Managers Index (PMI), which is a seasonally adjusted index to follow changes in total construction activity, it increased from 55.5 in November 2015, to 58.6 in December. It is the 28th consecutive month the index has increased, but its strongest since July last year.
The bank said an increase in activity last month was a result of new orders.
In addition, the index found that the rate of job creation also rose in December for the second month in a row.
Each of the three monitored sectors – housing, commercial and civil engineering – experienced higher activity in December, with faster expansions in activity were recorded on housing and commercial projects. Civil engineering activity continued to increase at a slower pace, while the rate of growth eased to a three-month low.
Simon Barry, Ulster Bank chief economist, commented: "Overall, the December survey results indicate that Irish construction firms are reporting solid momentum as a second full year of recovery drew to a close."
(JP/LM)
According to the latest Ulster Bank Construction Purchasing Managers Index (PMI), which is a seasonally adjusted index to follow changes in total construction activity, it increased from 55.5 in November 2015, to 58.6 in December. It is the 28th consecutive month the index has increased, but its strongest since July last year.
The bank said an increase in activity last month was a result of new orders.
In addition, the index found that the rate of job creation also rose in December for the second month in a row.
Each of the three monitored sectors – housing, commercial and civil engineering – experienced higher activity in December, with faster expansions in activity were recorded on housing and commercial projects. Civil engineering activity continued to increase at a slower pace, while the rate of growth eased to a three-month low.
Simon Barry, Ulster Bank chief economist, commented: "Overall, the December survey results indicate that Irish construction firms are reporting solid momentum as a second full year of recovery drew to a close."
(JP/LM)
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