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Irish construction sector rose again during February

The sharpest expansion in activity was again recorded on residential projects.

ACTIVITY IN THE Irish construction sector continued to rise during the month of February, according to the Ulster Bank Construction Purchasing Managers’ Index.

Activity has now increased for the past six months.

Housing

On a sectoral basis, the sharpest expansion in activity was again recorded on residential projects.

A further marked increase in commercial activity was registered, while civil engineering activity continued to fall at a sharp pace during the month.

The index – a seasonally adjusted index designed to track changes in total construction activity – registered at 56.2 in February, broadly unchanged from the reading of 56.4 in January but signalling a further sharp rise in activity in the construction sector.

Simon Barry, Chief Economist Republic of Ireland at Ulster Bank said that the index was essentially unchanged in February and remains well above the expansion threshold of 50.

“Indeed, the Construction PMI has been above 50 for six months in a row now – an important sign that recovery in the sector is becoming increasingly well-established. The pick-up in activity is translating into a welcome rise in staffing levels, with the employment index also registering a sixth consecutive monthly expansion in February,” he said.

He said further growth in new orders is reported as better market conditions are generating stronger pipelines of new business.

Read: Morgan Kelly warns SMEs could ‘go under’ taking a big chunk of the Irish economy>

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