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Financial News: Ireland Construction Growth Improves In September

Ireland Construction Growth Improves In September

10/09/2017 - 00:30:00 (RTTNews)

(RTTNews) - Ireland's construction activity continued to expand strongly in September, and at a slightly faster pace than in the previous month, survey figures from IHS Markit showed Monday.

The Ulster Bank Construction Purchasing Managers' Index rose to 56.5 in September from 55.1 in August. Any reading above 50 indicates expansion in the sector.

Among the three monitored categories, strong rises in activity were seen on both housing and commercial projects, while civil engineering activity continued to fall.

New business increased sharply again in September, although the rate of expansion eased to a 16-month low. Employment grew at the weakest pace for a year.

"Looking ahead, construction firms remain upbeat about activity prospects, with almost 55 percent of respondents anticipating further activity growth in the coming twelve months," Simon Barry, Chief Economist Republic of Ireland at Ulster Bank, said.

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