Building optimism at near-record high according to the Ulster Bank Construction Purchasing Managers’ Index

Optimism amongst Irish construction firms has reached a near-record high, on the back of new business orders hitting a five-month peak in November.

While the latest edition of the Ulster Bank Construction Purchasing Managers’ Index — seen as the primary barometer of health for the Irish building sector — posted a marginally lower reading than for October (55.5 points as opposed to 56.3 points) November’s activity still signalled another strong performance for the sector, in which activity has now increased in each of the past 27 months.

“The Irish construction sector continues to experience solid growth, according to respondents to the latest survey,” said Simon Barry, chief economist for Ulster Bank in the Republic.