Construction growth slackens in September

Construction in the Republic posted its 25th successive monthly increase, but the pace has slackened even as all three parts of the industry expanded, the latest monthly Ulster Bank survey showed.
Construction growth slackens in September

Construction in Ireland is recovering from one of the sharpest slumps experienced anywhere in Europe.

The Ulster Bank Construction Purchasing Managers’ Index showed that housing activity posted a reading of 55.6, commercial activity had a reading of 56.4 and civil engineering, at 51.7, also posted a slight increase in output.

A reading above 50 signifies growth. Overall, the survey headline found the rate of growth had slowed, with a PMI reading of 55.8 in September, down from 56.5 in August, and marking the lowest reading since March.

Simon Barry, Ulster Bank chief economist in the Republic, said that the slowdown may not be a cause for concern as business orders continued to grow rapidly. There were also more jobs in the sector.

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