Construction activity builds upwards according to recent PMI

Ulster Bank’s monthly construction purchasing managers’ index (PMI)

Ulster Bank’s monthly construction purchasing managers’ index (PMI),  a seasonally adjusted index designed to track changes in construction activity, posted a score of 60.2 points for May; down on the previous month’s 63.5 point reading but still ahead of the neutral 50-point mark which separates a sector in decline from one in growth mode. The rise in new business came from both domestic and external markets.

Sharp expansion in commercial activity
The commercial sector was the best-performing again in May with a score of 61.4, while a strong expansion in housing activity was also recorded during the month. While May’s index showed a strong expansion in housing activity, it was the commercial sector which once again led the overall sector’s growth.

Rises in purchasing and employment
Higher activity led construction firms to raise their buying activity and take on extra staff during May. Employment increased for the ninth consecutive month and the rate of job creation remained sharp despite easing from the previous month. Growth of input buying also remained strong during May, with around 30% of respondents increasing their purchasing levels.

View Full Report Ulster Bank Construction PMI Report (RoI)