Fastest rise in construction sector for decade

Total construction activity rose at its fastest pace in almost a decade and at the second quickest rate in the 14-year history of the Ulster Bank Construction Purchasing Managers’ Index (PMI).

The latest PMI shows near-record rises in activity, new orders and employment in October as the sector continued its recovery from the low ebb of the past few years.

Commenting on the results of the index, Ulster Bank Ireland chief economist, Simon Barry said it appeared the sector’s recovery was strengthening and reaching across a wider section of the industry.