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Ireland Construction Activity Rises For The Tenth Month

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Ireland’s construction sector increased for the tenth month in a row in February, survey data from IHS Markit showed on Monday.

The Ulster Bank construction Purchasing Managers’ Index rose to 58.4 in February from 56.1 in January. Any reading above 50 indicates growth in the sector.

The expansion was the strongest since July last year.

All the three categories of construction increased in February. Commercial activity rose at the fastest pace since June last year and housing activity grew to the highest level in five months.

Meanwhile, civil engineering increased at a softer pace.

New business accelerated in February and the rate of expansion in new orders rose to the highest in six months.

The rate of purchasing activity was the strongest since July last year. The rate of job creation eased to the weakest since April last year. Lead times lengthened in February.

Input costs continued to increase sharply in February, with the rate of inflation remaining unchanged.

Confidence among the constructors increased in the next 12 months as the impact of COVID-19 pandemic diminished.

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