New construction jobs reach near record levels in Ireland

  • 14 Feb 2017

Figures from the latest Ulster Bank Construction Purchasing Managers Index indicates that there was a surge in new construction jobs, reaching near record levels in Ireland.

The latest PMI revealed that 27% of firms reported workforce expansions – the second highest recorded since the monthly survey was first run more than 16 years ago.

In January, activity in the Irish construction sector continued to rise sharply, according to the PMI, prompted by an increase in new orders.

The headline PMI index remained comfortably in expansion territory in January, explained Simon Barry, Chief Economist Republic of Ireland at Ulster Bank. He added that residential activity remains a particular bright spot with housing activity continuing to rise at a rapid pace, while commercial activity also very much remains in expansion mode, though the pace of growth has eased in recent months.

Respondents report a third consecutive monthly decline in activity with civil engineering continuing to lag behind the other sectors. The Irish construction outlook is still judged as favourable by respondents, with confidence about future activity prospects remaining strongly positive in January amid further solid gains in new orders, despite easing in the rate of increase.

Staffing levels saw a substantial and accelerated rise last month with the rate of job creation picking up to its second-fastest in the survey’s 16-and-a-half year history, says Simon Barry. With building cost pressures due to the rate of input cost inflation picking up to its quickest in almost ten years, creating a note of caution.

“Respondents reported higher prices for oil-related products and for items sourced from UK suppliers, consistent with growing signs of Brexit-relatedprice and costs increases in the UK economy,” Simon concludes.

Leave a Reply

Latest news

Insight Data

Insight Data: Using Marketing Data to Build a Successful Business in 2025

Alex Tremlett, Insight Data’s Commercial Director, discusses the challenges for construction firms in 2025 and shares six strategies for success…

Posted in Articles, Building Industry News, Building Services, Information Technology, news, Research & Materials Testing

Purplex

Purplex: A tough Budget, but opportunity still knocks

Incoming governments, especially those with significant mandates, inevitably come into power on a tidal wave of optimism coupled with hope that ‘Things can only get better’. Andrew Scott, MD of construction-focused, full-service agency Purplex, talks…

Posted in Articles, Building Industry News, Building Services, Information Technology, news, Posts, Research & Materials Testing

Pop Up Power
OPT Services

OPT Services Revolutionises Fibre Cable Capping with Eco-Friendly Innovation

UK-based OPT Services has unveiled SlimLine™ Capping, a groundbreaking fibre cable protection solution that promises to deliver significant environmental and installation advantages to the fibre optic industry.

Posted in Articles, Building Industry News, Building Products & Structures, Building Services, Facility Management & Building Services, Information Technology, Innovations & New Products, Sustainability & Energy Efficiency