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Growth in construction continues

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Sep 14, 2018

Growth in construction continued through August despite slowing slightly on the previous month, data published on Monday shows.

Ulster Bank’s construction purchasing managers’ index (PMI) shows that activity in commercial development, house-building and public projects increased again last month.

August was the 60th consecutive month that the index showed growth, meaning that the Republic’s construction industry has been expanding for five years after pulling out of a deep recession sparked by the 2008 financial crisis.

The index, which follows the sector’s performance every month, hit 58.3 in August, indicating a sharp rate of growth. Ulster’s PMI takes 50 as its benchmark. Any reading above that figure indicates that the industry expanded on the previous month, while any result below that shows that it shrank.

August’s reading was below the 60.7 recorded in July, which shows that while activity increased it did so at a slower rate last month than in the previous one.

The figures show that house-building was the strongest performer, reaching 60.3 in August against 63.9 the previous month.

Commercial building, which includes offices and factories, recorded a reading of 57.7, from 60.9.

Civil engineering, which covers State-funded projects such as roads, schools, water-treatment plants and other infrastructure, advanced at the slowest rate, hitting just 51.5. Ulster Bank noted that August was the second month running in which this sector recorded growth.



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