Confidence up as building activity rises

Building activity rose rapidly in the final quarter of last year according to the Ulster Bank Construction Purchasing Managers’ Index, with builders believing the upturn has finally arrived.

Chief economist Republic of Ireland at Ulster Bank, Simon Barry, said confidence in the sector is being buoyed by the economy’s recovery. The vast majority of builders believe the recovery in construction will grow as the year goes on.

“Sentiment around the 12-month outlook reached a second consecutive record high for the survey as two-thirds of firms indicated they expect activity to be higher in a year’s time than in December.