Construction sector continues to grow

14/07/2014

The construction sector has expanded for a tenth consecutive month.

Figures for June show an encouraging growth and indicate that there are no signs of any slowdown in the industry as a whole.

The construction purchasing managers' index (PMI) from Ulster Bank for June is 59.9 - marginally down on the previous month's figure but still a very high figure (where over 50 shows activity is growing, under 50 means the sector is contracting).

Ulster Bank's chief economist for the Republic Simon Barry welcomed the latest index: “The results of the June survey confirm that activity trends in Irish construction firms remained robust at the end of the second quarter.

“The headline PMI eased back a touch last month but still remains at a very elevated level, consistent with ongoing solid improvement in the sector, albeit from the very depressed levels reached in the downturn.

“The strong trends in activity and new business continue to underpin job creation in the sector as staffing levels were raised for the tenth month in a row in June.”