Construction sector continues expansion
Published 09/11/2015 | 02:30
Ireland's construction sector continued to expand last month, with the housing and civil engineering sectors contributing most to growth, according to the Ulster Bank Construction Purchasing Managers' Index.
The index rose to 56.3 in October from 55.8 in September. Any figure above 50 signals expansion, any figure below, contraction.
It's the 26th month in a row that the sector has expanded.
Simon Barry, the chief economist for the Republic of Ireland at Ulster Bank, said that there was a marginal easing of growth in the commercial construction sector.
"The pace of expansion in new orders and employment eased slightly last month, but in each case the growth rates remain very solid," he said. "Both overall activity and new business levels have been rising for well over two years now, and the sustained expansion of activity in the sector continues to drive higher staffing levels among survey respondents."
Almost 60pc of respondents in the survey expect activity in the sector to increase in the next 12 months. Construction firms have also been hiring additional staff as their workloads increase, according to Ulster Bank.
The sharpest increase in activity during October was on housing projects.