Ireland Construction Growth Quickens In July

Ireland’s construction growth accelerated in July amid strengthening demand, survey data from IHS Markit showed Monday.

The Ulster Bank construction Purchasing Managers’ Index rose to 60.7 in July from 58.4 in June. Any reading above 50 indicates expansion in the sector.

Among three monitored categories, the fastest growth was on housing projects. Commercial activity also grew markedly, while civil engineering activity returned to growth in July.

New orders continued to rise sharply on the backdrop of improving customer demand. Consequently, firms raised their employment and purchasing activity at a substantial pace.

On the price front, the rate of input cost inflation remained marked amid some reports of material shortages.

The material has been provided by InstaForex Company – www.instaforex.com

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