Orders in building sector increase

NEW orders in the construction sector increased in December, but employment levels continue to fall, the latest Ulster Bank Construction Purchasing Managers’ Index shows.

However, Ulster Bank chief economist Republic of Ireland, Simon Barry, said there were further signs that the construction sector may be approaching a point of stabilisation in the latest reading of the index.

“The December survey featured several encouraging developments, including that the overall PMI rose to its highest level in over four-and-a-half years. At 49.9, the PMI is just a fraction below the expansion-contraction threshold level of 50, indicating that the pace of decline in construction activity last month was negligible.