Building sector ‘mend’ continues

The construction sector enjoyed its ninth consecutive month of growth in May, despite the rate of expansion easing from April’s historic highs.

Ulster Bank’s monthly construction purchasing managers’ index (PMI) — one of the main health barometers for the building sector — posted a score of 60.2 points for May; down on the previous month’s 63.5 point reading but still significantly ahead of the neutral 50-point mark which separates a sector in decline from one in growth mode.

All key growth metrics continued to show progress. While new business orders and staff hiring both rose sharply, each eased slightly from April’s levels. The rise in new business came from both domestic and external markets.