Softer Rise in Construction Activity Amid Storm Disruption

Ulster Bank Construction Purchasing Managers’ Index® (PMI®) – a periodically adjusted plan to reflect changes in all construction activity – set at 50.6 in February, down slightly from 50.9 in January and showed a slight increase in total construction in Ireland. An index index above 50 shows an increase in activity over the past month and a reading below 50 shows a decrease.

February growth was the third in many months, but the softest in this series. As the workload increased, managers combined this with the rise of new systems as demand increased. On the other hand, torrential rains in February slowed the growth rate.

Simon Barry, Chief Economist Republic of Ireland at Ulster Bank.

Commenting on the study, Simon Barry, Chief Economist of the Republic of Ireland at Ulster Bank, stated: “Recent results from the Ulster Bank Construction PMI survey show a third consecutive monthly increase in construction activity in Ireland in February. However, growth rates slowed slightly last month as the PMI head fell from 50.9 in January to 50.6 in February, and respondents said bad weather reduced growth rates. Small group data shows that business activity continues to drive growth, with February figures registering the fourth month of positive growth, albeit slower than in January. At the same time, the performance of sleeping services remained slightly disappointing, with Housing PMI showing a second consecutive decline in monthly income. However, the increase was small and the work would resume without bad weather last month.

“The new business continued to grow steadily, albeit slowly, in February as a reduction in Brexit-related uncertainty was cited as an aid to new strategies. In addition, companies also remain optimistic about the coming year. Even speculation returned slightly last month. since January of one year, companies have expressed confidence that the new business will prosper in the coming year, with about 40% of respondents expecting interest increases to increase in the next 12 months.However, the spread of coronavirus worldwide represents a new source of risk to the Irish economy as we look to the future, although the much-anticipated housing sector is likely to face the worst effects of the virus than its commercial counterparts. zovut of some in the construction are already being heard while some respondents say the spread of the virus in China is what is causing the delay in lending from retailers. ”

All growth is driven by commercial activities

As was the case in January, the rise in both jobs was driven by an increase in business activity while jobs fell elsewhere. That said, sales growth slowed. Construction activity declined more slowly than in January, while construction activity declined sharply again.

Strong expansion of new systems

New orders were added for the third consecutive month of February. The larger dose was stronger, even lower than that seen in January. Respondents spoke of a change in customer preferences, sometimes due to the clarity of the Brexit approach at hand.

Chain-chain distortions are evident

With the new rules increasingly intensified, companies continued to expand their operations and purchase jobs. Employment has now increased every month for the past six and a half years, although recent growth has been modest since last October. Risk of consumer growth also declined in February.

Attempts to obtain new products failed due to delays by vendors. The average lifespan was very long, and mostly for seven months. According to those interviewed, the longest return period was usually a typhoon in February, but there were some delays due to the spread of coronavirus in China.

Rising prices rose to three months in February, with rising prices for raw materials such as concrete and steel. Higher insurance premiums were also stated, along with the management of exchange rates.

The 12-month trading volume remained positive, despite rising from January one year. Confidence was based on expectations that the new rules will continue to rise over the coming year.

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