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Ulster Bank Construction PMI® Report (RoI)
Zone(s): Ireland ¦ Sector(s): Construction
The recovery in the Irish construction sector continued in May. Although rates of expansion in activity, new orders and employment all eased from the highs seen in the previous month, they remained strong and companies were again optimistic regarding growth over the coming year. A marked acceleration in the rate of input cost inflation was recorded as suppliers took advantage of improved demand for inputs to raise their charges. The Ulster Bank Construction Purchasing Managers’ Index® (PMI®) – a seasonally adjusted index designed to track changes in total construction activity – posted 60.2 in May, down from the previous month’s reading of 63.5 but still pointing to a sharp increase in total construction activity. Activity has now risen in each of the past nine months, with the latest expansion linked to higher workloads and improving confidence.