Infrastructure spend lags one year after ‘Ireland 2040’
THE pace of growth across the construction sector has slowed, according to new data from Ulster Bank.
The rate of output growth eased to a three-month low and a sub-index of civil engineering shows activity declined again, albeit at a reduced pace, a sign that infrastructure projects are still not coming on stream a year after the Government launched its €116bn “Ireland 2040” capital investment strategy.
The weaker overall pace of expansion in the sector fed through to a fall in the pace of employment gains, but there were signs of pressure points on the supply side, with rising costs for steel and insulation.
Growth in January was strongest in the house-building sector followed by commercial developments.
The Ulster Bank Construction Purchasing Managers’ Index is a seasonally adjusted index designed to track changes in total construction activity.
It has shown consistent expansion on a monthly basis since September 2013 which continued in January.
There were signs of pressure points on the supply side, with rising costs for steel