| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : Property Last Updated: Mar 10, 2014 - 8:35 AM

Irish construction PMI rises from low base; Number of firms polled low
By Finfacts Team
Mar 10, 2014 - 3:33 AM

Email this article
 Printer friendly page

Activity in the Irish construction sector rose again during February as new order growth picked up pace according to PMI data - - this is a measure of an increase in activity from a very low base and the number of firms polled has not been disclosed. So it's likely very low.

 Companies also upped their rate of job creation and maintained a strongly optimistic outlook for the year ahead. Meanwhile, cost inflationary pressures were only modest, having eased for the fourth successive month. The Ulster Bank Construction purchasing managers’ index (PMI) - - a seasonally adjusted index designed to track changes in total construction activity  - - registered at 56.2 in February, broadly unchanged from the reading of 56.4 in January, and thereby signalling a further sharp rise in activity in the construction sector. Activity has now increased in each of the past six months.

Commenting on the survey, Simon Barry, chief economist Republic of Ireland at Ulster Bank, noted that: "The February results of the Ulster Bank Construction PMI point to further rises in Irish construction activity mid-way through the first quarter of 2014. The headline PMI index was essentially unchanged in February and remains well above the expansion threshold of 50, consistent with ongoing solid gains in activity. Indeed, the Construction PMI has been above 50 for six months in a row now – an important sign that recovery in the sector is becoming increasingly well -established. The pick-up in activity is translating into a welcome rise in staffing levels, with the employment index also registering a sixth consecutive monthly expansion in February.

"Looking ahead, near-term prospects for the sector are supported by further growth in new orders as firms reported that better market conditions are generating stronger pipelines of new business. Beyond the near-term, firms remain strongly optimistic about the sector’s 12 -month ahead outlook as sentiment last month remained close to the record high seen in December, buoyed by more positive signs in the wider economy."

Housing sector leads overall expansion: On a sectoral basis, the sharpest expansion in activity was again recorded on residential projects. Although the rate of growth in housing activity slowed, it remained substantial. A further marked increase in commercial activity was registered, while civil engineering activity continued to fall at a sharp pace during the month.

New business growth accelerates: New orders increased for the eighth consecutive month in February, and the rate of growth quickened from that seen in January. Panellists reported that strengthening market conditions had resulted in greater opportunities to gain new business.

Check out our subscription service, Finfacts Premium , at a low annual charge of €25

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

Latest Headlines
Irish residential rents rise 9% as students face tight market conditions
Irish construction activity growth eased in July
Irish residential property prices fell in Dublin in June
Irish mortgage approvals growth fell sharply in April 2015
Irish land prices among highest in world; Noonan tax cut boosts Dublin prices
AIB cuts Irish variable mortgage rates
Dublin residential property prices rose by 1.1% in March
Global property bubble: Dublin tops 2014 global returns at 44.7%
New Irish housing units in 2015 forecast at only 10,000
Ireland: Dublin house prices up 21% in year to February 2015 after price decline in month
Prime office rents in Dublin to rise by up to 31% in 2015 after 29% surge in 2014
Irish mortgages paid in 2014 at 1976 level; Half of house sales paid in cash
Irish residential property prices fell 1.4% nationwide in January
Irish House Rents: Supply tightens in Dublin's commuter counties in Q 42014
Irish commercial property returns in 2014 among highest in world
Irish Housing: "Unique" demographics to boost demand; Shortages to rise
Irish mortgage approvals in 2014 at 36-year low; Exceed paid loans
Irish commercial property investment in 2014 was 25% above bubble peak in 2006
Irish construction continues to rise from very low base
Irish house asking prices fell back slightly in fourth quarter of 2014
Price/Earnings multiple for Dublin houses is double 1993 level
Residential property rents up almost 10% in Dublin in past year
Irish Government and vested interests lobby for easing of Central Bank's mortgage rules
Ireland tops global property price rankings six years after bust
Number of Irish mortgages paid in 2014 at 1974/75 level - a 40 year-low
Irish construction PMI survey confidence measure highest since 2000
Irish mortgage arrears decline; 38,463 BTL accounts in arrears
Irish Housing: Renting provides less security than ownership, unpredictable rents
Ireland: NAMA to redeem €1bn of senior bonds; Fund Boland’s Mill site development
Ireland: 35,000 social housing units by 2020 achievable; Rental market possibly not
Dublin house prices up 24.1% in year to October 2014
Irish home ownership to fall due to affordability
'Tara Collection' of office buildings on sale in Dublin for €263.8m
Irish Housing Rents 2014: Dublin just 10% short of 2007 bubble peak
Irish Economy: Residential mortgage approvals in 2014 as low as in 1977
Irish Construction: Fastest rise in new business for decade - not level of activity
Biggest US individual landowner responds to tax breaks in Ireland and UK
Irish commercial property annual return to September 2014 at 36.6% - income at global high
NAMA expects surplus of less than €500m - it's not a profit; 88.5% sales to US investors
NAMA selling 588 Dublin apartments - name withheld in announcement