Sunday 17 December 2017

Global chill threatens green shoots in economic garden

Brendan Keenan

Brendan Keenan

Green shoots are at last appearing in the garden, after another cold spring caused by global warming. Pottering among the statistics shows sturdy plants in the economy as well, but worries about the climate.

Some of the economic shoots had been all but dormant. This is especially true of construction. As expected, Ulster Bank's survey of purchasing managers in the industry found that growth last month was not quite as stellar as in February but the the figure of 62.3 is still pretty bright, given that 50 represents a steady level of output.

Building activity has now increased in each of the past 31 months. The fastest growth last month was on commercial projects, followed by house building. Employment has risen every month since September 2013.

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