Market comment - Ireland’s construction PMI - further sharp rises in activity and new orders

Davy Research
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The Ulster Bank construction PMI for August points to continued expansion in Ireland’s construction sector; although lower month-on-month, this comes on the back of three months of exceptionally high readings following the reopening of the economy. Within the mix, the housing PMI remains the strongest again this month. In addition, employment activity is now accelerating and despite higher input costs and ongoing supply chain disruption, respondents remain upbeat on the outlook for the next 12 months.