A recent survey of the construction industry in Northern Ireland has shown there’s resurgence in the pace of growth.

 

Produced by Ulster Bank, the Purchasing Managers Index (PMI) showed in May, construction had its fastest growth in over 10 years following a five-year slump.

 

The bank's chief economist in Northern Ireland, Richard Ramsey, said the figure for construction indicates a period of "catch-up from very low levels of activity".

 

The construction industry growth in May represents the highest rate of growth ever experienced in the history of the PMI survey.

 

Although its positive news, it would appear that the recovery is still fragile in Northern Ireland’s housing market with official figures from the last quarter of 2013 showing the number of new houses still falling.

 

There’s some evidence that this part of the UK is benefiting from the recovery being experienced over the border in the Republic of Ireland.

 

Ultimately, the increase in the construction industry’s growth in Northern Ireland is great news, seeing new orders and job creation, something that should be encouraging to the Northern Irish after the house price collapse and the damage the recession has done to industry, and especially construction (where one in three construction workers lost their job).