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Financial News: Ireland's Construction Growth At 11-Month Low

Ireland's Construction Growth At 11-Month Low

10/08/2018 - 08:07:00 (RTTNews)

(RTTNews) - Ireland's construction activity expanded strongly in September but the pace of growth eased to an 11-month low, survey results from IHS Markit showed Monday.

The Ulster Bank Construction Purchasing Managers' Index dropped to 56.2 in September from 58.3 in August. Nonetheless, a score above 50 indicates expansion in the sector.

Activity has risen continuously on a monthly basis since September 2013, with the latest expansion the weakest in almost a year.

The strongest increase in activity across the three broad categories covered by the survey was on commercial projects, the first time this has been the case since June.

Commercial activity expanded sharply and the rate of growth in activity on housing projects remained marked, but slowed for the second month running. Meanwhile, civil engineering activity decreased moderately, the first fall in three months.

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