Sharp gain in construction activity recorded in June

Construction work on a student apartment development on the former Crow's Nest site at Carrigrohane Road/Victoria Cross in Cork. Picture: Larry Cummins

Construction activity in Ireland increased for the first time in four months according to the monthly Purchasing Managers’ Index (PMI) from Ulster Bank.

The seasonally adjusted index is designed to track changes in total construction activity and posted 51.9 in June, above the 50.0 no-change mark for the first time in four months. The reading was up substantially from 19.9 in May. Index readings above 50 signal an increase in activity on the previous month and readings below 50 signal a decrease.