Building industry growing strongly

THE construction industry registered 36 months of consecutive expansion in August, the latest Ulster Bank Purchasing Managers’ Index (PMI) has found.

The index increased from 57.7 in July to 57.8 in August. The PMI now remained above the 50.0 mark separating expansion from contraction in each month of the past three years.

According to Ulster Bank chief economist Pat McArdle, anecdotal evidence suggested that the growth of new orders underpinned the latest rise in construction activity.