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Financial News: Ireland Construction Activity Growth Improves In April

Ireland Construction Activity Growth Improves In April

05/12/2019 - 23:38:00 (RTTNews)

(RTTNews) - Ireland's construction activity logged a faster growth in April, survey data from IHS Markit showed Monday.

The Ulster Bank Construction Purchasing Managers' Index rose to 56.6 in April from 55.9 in March. The score signaled the sixty-eighth consecutive month of greater construction activity in Ireland.

"The latest results also point to a reacceleration in New Orders growth, with new business levels continuing to rise sharply, underpinned by ongoing increases in the demand for construction work," Simon Barry, chief economist at Republic of Ireland at Ulster Bank, said.

"That said, negative Brexit uncertainty effects on customers were identified by some firms who noted lower demand in the April survey," the economist added.

The housing sub-category recorded the fastest rise in activity of the three monitored sub-sectors for the fourth successive month in April. Nonetheless, the corresponding PMI slid slightly to 60.5 from 60.8 a month ago.

Commercial activity also expanded solidly, although at the slowest pace in six months. The commercial activity index came in at 54.6 versus 55.5 in the previous month.

For the eighth successive month, civil engineering activity declined but at a softer pace than in March. The civil engineering activity PMI climbed to 46.4 from 43.7 in March.

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