The Ulster Bank Construction Purchasing Managers’ Index (PMI) has posted 58.4 in June, signalling another sharp monthly rise in activity.This was despite the index dipping from May’s 61.8 to a three- month low, however total activity has now risen in each of the past 58 months.
Simon Barry, Chief Economist Republic of Ireland at Ulster Bank, said firms continued to experience "very solid, though slightly slower" growth in June.
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"The headline PMI eased back from what was an extremely elevated reading in May to stand at 58.4 in June but this is still very much a level which signals ongoing rapid gains in activity," he said.
"The latest results, as well as anecdotes from survey respondents, continue to highlight that Housing and Commercial remain areas of particular strength within the sector, albeit that there was some cooling of growth momentum in June from the exceptionally rapid rates recorded in May.
"Other elements of the survey also painted a very positive picture, with the pace of job creation quickening further while new business also rose at a very rapid rate, barely slower than last month’s one-year high."
"Furthermore, confidence among firms about year-ahead prospects for construction remains very elevated, with 56% of respondents expecting activity to rise."
(LM)
