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Successive growth in Irish Construction sector

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The country’s construction sector posted its 50th successive month of growth in October, but the rate of growth was the slowest in over two and a half years.

Ulster Bank’s Construction PMI showed a reading 54.5 for October. This was down from a reading of 56.5 in September, with weaker rises in total activity, new orders and employment all reported last month.

Of the three categories measured, housing and commercial reported solid growth but civil engineering activity contracted for the fifth month in a row.

The latest PMI figuresĀ  showed that the rate of job creation among construction firms eased in October for the second month in a row with employment levels continuing to rise at a solid pace, with new hiring in response to new contracts.

Increasing workloads also saw companies increasing their purchasing activity, with the rate of expansion at a three month high.