Significant rise in building activity, Ulster Bank survey shows

Pace picked up in commercial projects but eased a bit in housing and civil engineering

The Ulster Bank construction purchasing managers’ index shows a rising demand for construction workers, with the employment index  at its highest level since June
The Ulster Bank construction purchasing managers’ index shows a rising demand for construction workers, with the employment index at its highest level since June

Construction sector activity rose sharply in November, survey results suggest.

The Ulster Bank construction purchasing managers’ index indicates that the pace of activity picked up in commercial projects but eased slightly in housing and civil engineering.

Survey results are measured on a composite on which readings above 50 signals increasing activity while readings below point to a decrease.

The November result was 55.5, down from 56.3 in October but still at a level that reflects a big rise in activity.

READ MORE

“It remains well above the 50 break-even level and continues to signal widespread gains in activity,” said Ulster Bank chief economist Simon Barry.

“There was a notable acceleration in new business growth recorded by firms last month, with the new orders index picking up to a five-month high.

“Furthermore, the ongoing increases in current and prospective activity levels continue to underpin rising demand for construction workers, with the employment index also rising to its highest level since June.”

Arthur Beesley

Arthur Beesley

Arthur Beesley is Current Affairs Editor of The Irish Times