Friday 23 February 2018

Construction sector expansion slows

The growth in Ireland's construction industry activity slowed down during August, although the sector did continue to expand.

The Ulster Bank Construction Purchasing Managers' Index - a seasonally adjusted index designed to track changes in total construction activity - posted a reading of 56.5 in August, down from 59.1 in July. However, it was still well above the 50-point mark that indicates growth.

Ulster Bank Republic of Ireland chief economist, Simon Barry, said that the Irish construction sector experienced a further "solid" rise in activity in August, albeit with the pace of growth moderating since July". He added: "Solid, but somewhat slower, rates of expansion were also recorded in residential and commercial activity though a second consecutive decline in civil engineering activity highlights this sub-sector remains a relatively weak spot."

Irish Independent

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