The level of activity in the Irish construction industry is continuing to increase, according to figures released by Ulster Bank.
Growth in the construction sector remained elevated in November as activity, new orders and employment all rose, the bank said.
Its construction purchasing managers’ index – a seasonally adjusted index designed to track changes in total construction activity – registered at 63.5 in November, down from 64.9 in October but “still signalling a substantial increase in construction activity in Ireland”.
Ulster Bank economist Simon Barry said November was a strong month for the sector. “Activity continued to expand at a very solid rate last month, though at a slightly slower pace than in October. This brings the run of monthly activity gains to fifteen as the sector’s recovery continues to gain traction, albeit from the very depressed levels reached during the downturn.”
He added that almost three in four firms expect activity to increase in 2015, “reflecting perceptions that the broader economic environment is set to continue to improve”.
The sharpest expansion in November was on commercial projects.