Construction activity in Ireland Reaches a 7 Month High
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Construction Activity in Ireland
Construction activity in Ireland sees another rise. The Irish construction Industry has reached a 7 month high in February. That’s according to Ulster Bank’s most recent PMI (purchasing managers’ index). Activity saw a significant acceleration in comparison to January’s growth. The index posted a reading of 60.5 February in comparison to the previous month of January which scored 54.6.
Ulster Bank’s chief economist
According the Ulster Bank’s chief economist Simon Barry: “The housing PMI Picked up to its highest level since May of last year pointing to a welcome strong start to 2019 for housing construction.” Anything above the 50 mark indicates growth for the sector. Residential in particular was a strong area.
Respondents in particular showed a strong pick-up in new business. This contributed to the large rise in the reading for February. This strong activity continue to show and underpin the demand for construction workers with overall sentiment being “Solidly positive according to Simon Barry.