Further gains in building sector

February represented the sixth consecutive month of growth in the construction sector; with firms seeing accelerated new order levels, increasing their staff levels and maintaining a strong air of optimism.

The latest monthly construction purchasing mangers’ index (PMI) from Ulster Bank — published this morning — was largely unchanged from January (a reading of 56.4 points marginally declining to a reading of 56.2 points) and points to further rises in sectoral activity as the first quarter of the year progresses.

The sharpest expansion in activity was again recorded on residential projects, but there was also a significant 3.6 point rise to 40.9 points in the reading for civil engineering activity; inching further towards the neutral 50 point mark, which separates a sector in decline from one in growth mode.