Construction Output Increases – Report
The Ulster Bank Construction Purchasing Managers' Index, which looks at changes in construction activity, hit 62.3 in October, up from 58.7 in September.
The acceleration has seen an increased demand for workers, with a third of Irish construction companies reporting an increase in employment. Last month, the rate of hiring reached an eight-month high.
However, it was also noted that the strong activity being experienced by the sector is also beginning to push up costs. The rising demand has prompted suppliers to increase their charges, and also resulted in delivery delays. Ulster Bank added that the rise in input costs faced by construction firms in October was the fastest since August 2015.
Simon Barry, chief economist for the Republic of Ireland at Ulster Bank, said: "Firms continue to report a strengthening in client demand amid a general improvement in economic conditions as an important contributor to the ongoing uplift in new business volumes.
"In turn, the healthy expansion of new orders continues to underpin increased demand for construction workers."
Posted date : 23-11-2016
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