2021.06.1408:30:00UTC+00Ireland Construction Sector Recovers In May

Ireland's construction sector expanded in May for the first time since the imposition of the lockdown at the start of the year, survey data from IHS Markit showed on Monday.

The Ulster Bank Construction Purchasing Managers' Index rose to 66.4 in May from 49.3 in April. A score above 50 indicates expansion in the sector.

All three broad categories of construction, namely housing activity, commercial activity and civil engineering activity expanded in May.

New orders accelerated in May with the rate of expansion fastest in the twenty-one year survey history.

Staffing levels rose for the second straight month in May and at the fastest since April 2019. Suppliers' delivery time lengthened in May.

On the price front, the rate of cost inflation increased to a record level in May.

The further reopening of the economy and continued release of pent-up demand supported ongoing confidence among construction firms that activity will increase over the coming year.

Can't speak right now?
Ask your question in the chat.