independent

Saturday 19 April 2014

Construction industry activity up again in December

File pic of work on Peyton estate in Rathcoole, Co Dublin. 130,000 new homes are needed on the market to fill demand.
File pic of work on Peyton estate in Rathcoole, Co Dublin. 130,000 new homes are needed on the market to fill demand.

CONSTRUCTION industry activity rose again in December on the back of a sharp increase in new orders.

The purchasing managers' index from Ulster Bank, which tracks the sector, stood at 58.3 last month - any figure above 50 is positive.

"The headline PMI index edged lower in December but remains at elevated levels and continues to signal strong expansion in overall activity, as it has done for the past four months," Ulster Bank economist Simon Barry said.

House building was the strongest sub-sector again in December, growing the fastest in nine years while there were also gains in commercial activity while civil engineering lagged behind.

While coming off lows, the survey also showed that employment in the sector has grown for the fourth consecutive month and optimism that the improvement experienced in the second half of the year will continue into 2014, Ulster Bank said.

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