Continued Growth Seen in Construction for November
The month of November revealed the continued growth after a short lived 3 month slump, with November marking a 5 year high in new business orders.
The Ulster Bank Purchasing Managers index which is viewed as a measure of the health of the construction sector shown an increase with November showing 55.5 points for the month of November, an increase from the previous month of 52.9 (October).
Ulster Bank Chief economist Simon Barry, speaking on the results mentioned the three month slump which came after an “exceptionally raped growth recorded in the summer”. A sharp increase in the acceleration in housing activity making it the fastest growing sector within Ireland last month.
Staffing levels have seen 63 months of continued growth within the sector with “civils” being one of the few sectors which has seen a third consecutive month of decline.