GROWTH IN THE construction sector is healthier than it has been in eight years, new figures published this morning by Ulster Bank show.
Statistics gathered by the bank for March show that the rate of growth in the Irish construction industry increased last month, having an overall positive affect on the figures for the first quarter of the year.
The construction purchasing managers index (PMI) stands at 60.2 compared to 56.2 during February, posting a seventh successive monthly increase. The rate of expansion is at its sharpest since January 2006.
Ulster Bank chief economist Simon Barry said: “(There) was a further strong increase in new orders last month which suggest that near-term prospects for a continued strengthening of the sector’s recovery are healthy.”
Jobs growth, but from a low base
Barry said that employment in the sector also rose for the seventh month in a row, but cautioned that the figures are coming off a low base following the “severe job-shedding” which occurred during the downturn.
The strongest growth was recorded in the housing and commercial construction sector, while the rate of decline in civil engineering activity slowed for the second month running.
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