Construction PMI slips, but remains strong
There were signs of slower growth in the Irish construction sector during July, but activity, new orders and employment all continued to increase sharply.
The Ulster Bank Construction Purchasing Managers' Index fell to 59.1 in July from 65.7 in June, its lowest level in three months. Any figure above 50 indicates expansion; any figure below, contraction.
"The overall PMI index did fall back a bit last month, but from what was an exceptionally strong reading in June and the July results signal that firms continue to experience rapid growth," said Ulster Bank chief economist Simon Barry.