Following another sharp expansion in August, activity in the construction sector has now increased in each month throughout the past year.
Growth last month was boosted by a steep rise in new orders, Ulster Bank’s August Purchasing Managers Index (PMI) found. PMIs are closely watched indicators of a sector’s health. Its headline reading was 61.4; anything over 50 indicates expansion. Companies were strongly optimistic that activity will continue to increase over the coming year, the bank said.
Employment also rose for the twelfth month in a row.
“The solid trends in new business are translating into higher staffing levels,” said Ulster Bank chief economist Simon Barry.
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