Ireland Ulster Bank Construction PMI2013-2021 Data | 2022-2023 Forecast | Calendar

The Ulster Bank Construction PMI in Ireland edged up to 66.5 in June 2021 from 66.4 in May, pointing to the second growth in five months following the full reopening of the sector and at one of the strongest rates since the survey began 21 years ago. Housing continued to lead the expansion (68.8 vs 73.4 in May), while rates of growth in commercial (63.8 vs 63.5) and civil engineering activity (57.7 vs 57.6) accelerated marginally. New orders index posted another extremely high reading not far from May’s survey record high, while employment rose for the third month running. Meanwhile, the rate of expansion in input buying was marginally softer than May's record. Suppliers' delivery times continued to lengthen considerably, with the rate of deterioration much faster than anything seen prior to the pandemic. On the cost front, input cost inflation hit a fresh record high for the second month running. Looking ahead, confidence eased to a four-month low.

The Ulster Bank Construction PMI in Ireland jumped to 66.4 in May 2021 from 49.3 in April, pointing to the first growth in five months and the steepest pace since February 2016. The latest reading was also the second-fastest on record, amid the lifting of COVID-19 curbs. Housing activity grew at the fastest rate since the survey began 21 years ago (73.4 vs 54.8 in April), the rate of growth in the commercial sector hit a 3-year high (63.5 vs 42.2), and civil engineering work rose the most since March 2016 (57.6 vs 43.1). Meantime, new order grew at a record pace, employment went up at the steepest rate since April 2019, and the rise in input buying was the sharpest on record. At the same time, pressure on supply chains continued. Prices data showed input cost inflation surging to a new record high and by far the sharpest in the survey history. Finally, sentiment was little changed, remaining much stronger than the series average.

The Ulster Bank Construction PMI in Ireland jumped to 49.3 in April 2021 from 30.9 a month earlier, pointing to the fourth straight month of contraction in the sector, on the back of an easing in COVID-19 restrictions, with housing activity expanding for the first time in four months, and at a marked pace (54.8 vs 33.8 in March). At the same time, contraction eased in both commercial activity (42.2 vs 31.3) and civil engineering work (43.1 vs 23.8). New orders grew in April, ending a three-month sequence of falls, job creation rose for the first time so far this year, and buying levels stabilized following three months of drops. Construction firms continued to face severe supply chain disruption, while lead times lengthened substantially, amid Brexit, and the blockage of the Suez Canal. On the cost front, input prices went up the most since July 2004, reflecting rises in prices for steel and timber. Finally, sentiment was unchanged from a 2-1/2- year high posted in March.

The Ulster Bank Construction PMI in Ireland rose to 30.9 in March 2021 from February's reading of 27.0. However, this was the third straight month of fall in the construction sector, amid the the pandemic-related restrictions. Housing work shrank at a softer rate (33.8 vs 23.8 in February) on the back of a further reduction in both commercial activity (31.3 vs 31.2) and civil engineering work (23.8 vs 19.5). New orders fell at a slower rate, employment continued to decline solidly, and buying activity dropped for the third month running. The twin factors of Brexit and COVID-19 were reportedly responsible for continued severe delays in receiving purchased items, while there were also mentions of capacity pressures at suppliers. On the price front, input cost inflation went up for the third month in a row and was the fastest since February 2018, amid rising costs for shipping and raw materials such as metals. Finally, sentiment hit its highest in 2-1/2 years.