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New construction order growth hits a five month high

Ireland's construction sector has continued to recover, according to the latest Ulster Bank&...
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Newstalk

09.41 14 Dec 2015


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New construction order growth...

New construction order growth hits a five month high

Newstalk
Newstalk

09.41 14 Dec 2015


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Ireland's construction sector has continued to recover, according to the latest Ulster Bank construction Purchasing Managers Index - which had a reading of 55.5 in November.

This was down slightly from the 56.3 registered in October - but well above the 50 threshold which indicates growth.

The figures show that new orders growth was at a five month high during the month, which suggests that the industry remains in a healthy state.

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The rate of job creation has also improved, rising at its fastest level since June as companies took on more workers to deal with increases in orders.

Housing, commercial and civil engineering projects all grew for the third consecutive month - with the commercial sector expanding at a fastest pace, while growth in the other two slowed slightly on last month. 

Ulster Bank's chief economist Simon Barry commented on the figures, ""Furthermore, the ongoing increases in current and prospective activity levels continue to underpin rising demand for construction workers, with the employment index also rising to its highest level since June."

"A pick-up in enquiries and an improving economic environment more generally are contributing to bullish sentiment among construction firms as the year draws to a close, with two-thirds of respondents expecting activity to increase over the coming 12 months," he added.


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