Irish Construction Continues To Expand Exponentially



Ulster Bank chief economist Republic of Ireland Simon Barry said: “A decline in the headline PMI index, from 60.5 to 55.9, indicates that the pace of expansion did ease back in March. However, this follows a very strong February performance and the still-robust level of the PMI signals that Irish construction continues to expand at a solid rate. Mirroring the pattern of the headline PMI, the sectoral sub-indices also painted a picture of moderating growth in March, though the housing and commercial indices both remain at levels consistent with ongoing solid activity growth.” This was particularly so in the case of housing, which was the fastest-growing category for a 3rd month in a row.

Firms remain optimistic about the coming year, said Barry, with 43% of respondents anticipating higher output levels over the year ahead, with expectations of stronger customer demand cited as an important source of support. Employment growth was the fastest since July 2018.