Irish Construction Growth Accelerates In April

hedger2.jpg

Ireland's construction activity expanded at a marked rate in April, driven by growth in new projects, survey data from IHS Markit showed Monday.

The Ulster Bank construction Purchasing Managers' Index rose to a 3-month high of 60.7 in April from 57.5 in March. Any reading above 50 indicates expansion in the sector.

Among three monitored categories, both housing and commercial activity grew at the fastest rate in eleven months, while growth in civil engineering activity softened.

New orders increased at a marked pace in April amid greater client demand and wider success in tender applications. The rate of job creation logged the fastest since February 2017.

Although falling to a three-month low, business confidence towards output over the coming 12 months was robust in April.