Building growth at six-month high
The latest edition of Ulster Bank’s construction purchasing managers’ index (PMI) — widely seen as the chief health barometer for the sector — shows a 61.3 point reading for April; up from 60.8 in March. Any reading above the neutral 50 point mark represents a sector in growth mode.
April’s growth was driven by housebuilding work, but commercial and civil engineering activity also rose. New business orders and staff hiring levels expanded at sharper rates than previous months and overall rising activity levels led building firms to increase their own purchasing at the fastest pace on record.
