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Optimism Grows in
Irelands Construction Sector
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esearch for the monthly Ulster Bank Construction Purchasing
Managers’ Index found that sentiment among constructors achieved
the third-highest score in the survey’s fifteen-year history.
Improving economic conditions had reportedly resulted in greater numbers
of enquiries, fuelling positive sentiment regarding the prospects for growth of
activity over the next 12 months.
Activity in Ireland’s construction sector rose sharply in November, helped by
accelerated growth of new business.
The Ulster Bank Construction Purchasing Managers’ Index (PMI) – a
seasonally adjusted index designed to track changes in total construction
activity – posted a figure of 55.5 in November. This was below the reading of
56.3 from October but still signalling a sharp monthly rise in construction
activity in Ireland. Activity has now increased in each of the past 27 months.
Simon Barry, chief economist Republic of Ireland at Ulster Bank, said: “The
Irish construction sector continues to experience solid growth, according to
respondents to the latest Ulster Bank Construction PMI survey. The headline
PMI index fell a fraction in November but, at 55.5, it remains well above the 50
break-even level and continues to signal widespread gains in activity.”
All three major sectors recorded expansion for the third month in a row, with
the pace of activity picking up in commercial projects, and easing slightly in
housing and civil engineering.
Barry added: “Several other aspects of the detailed results provide
encouragement about the sector’s performance at present. There was a
notable acce \