Irish Construction Sector Continues Growth in August
Ireland's construction sector activity continued to rise strongly in August, completing a full year of growth, albeit at a slower rate than the previous month.
The data from the Ulster Bank Construction Purchasing Managers Index showed PMI down to 61.4 in August from 62.6 in July, with a level of 50 indicating growth.
The strongest performance came from residential and commercial construction, with companies in those sectors reporting particularly good growth during the month. Commercial was at 63.2, while housing stood at 63.7, although this did represent a decline on the previous month’s figure of 65.4.
However, civil engineering continued to decline slowly, falling from 49.3 in July to 48.3 in August.
New orders rose for the fourteenth consecutive month in August, while employment levels increased for the twelfth straight month.
Construction firms also surveyed also indicated their optimism for future growth.