Ireland’s construction sector grew for the first time in four months driven by robust new orders, survey data from IHS Markit showed Monday.

The Ulster Bank Construction Purchasing Managers’ Index rose to 53.5 in November from 48.6 in October.

The score signaled that the sector grew the most since August 2019. A score above 50 indicates expansion in the sector.

The survey showed that the increase in overall activity was centered on housing work. Residential activity grew for the second straight month. Meanwhile, commercial activity was unchanged and civil engineering work contracted in November.

New orders expanded at the biggest rate since April 2019 and sentiment regarding the 12-month outlook for activity the strongest since before the Covid-19 outbreak in March.

Further, staffing levels increased for the second consecutive month and at the fastest pace in ten months.

Input prices continued to rise at a faster pace than the series average. Higher prices for raw materials such as steel and timber were reported, with some firms highlighting increases in costs related to importing items.

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

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