Strong rise in housing and commercial construction sectors since 2006
Both the housing and commercial construction sectors saw stronger rises in activity than in February during March, with rates of expansion at three-month highs in each case. Meanwhile, the rate of decline in civil engineering activity slowed for the second month running and was the weakest since last November.
Commenting on the survey, Simon Barry, Chief Economist Republic of Ireland at Ulster Bank, noted that:“The recovery in the Irish construction sector gathered pace at the end of the first quarter, according to the March results of the Ulster Bank Construction PMI survey. The overall PMI index jumped to 60.2 last month as the rate of expansion picked up to its fastest pace in over eight years. Housing activity continued to rise sharply in March with last month representing the ninth month in a row of expansion linked to residential projects. Commercial activity also continues to expand briskly, while the pace of decline in civil engineering eased for the second month running.”
