Ireland's construction sector continued to grow, according to the latest Construction Purchasing Managers Index (PMI) from the Ulster Bank.
The Construction PMI in Ireland, which tracks changes in total construction activity, rose to 57.9 in February 2017 from 55.7 in January.
The Ulster Bank is a large commercial bank in Ireland. It is one of the traditional Big Four Irish banks.
The data for the Construction PMI are collected at mid-month, asking respondents to compare a variety of business conditions with the situation one month ago.
A reading of below 50.0 indicates that the economy is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded in the previous month.
The Construction PMI showed total housing activity and new orders grew at a faster pace and that the level of job creation remained at a near-record high.
Also, companies remained optimistic regarding the prospects for growth of activity over the coming year.
Construction PMI in Ireland averaged 58.57 from 2013 until 2017, reaching an all time high of 68.80 in February of 2016 and a record low of 43.40 in June of 2013.
Latest comments