CIOB reacts to latest statistics from Ireland on production in building and construction
The Production in Building and Construction Index, a short-term measure of activity in the sector by volume and by value, was released on Friday (6 March 2020) by the Central Statistics Officer, Ireland. This release covers the 4th quarter of 2019 and shows a healthy construction sector in Ireland, with an increase in volume both by quarter (5.3%) and year on year (14.6%). The sector also experienced significant increases in value, with 6.9% quarterly and 16.8% annual growth.
Residential Building continues to be a key driver for the construction sector. On a quarterly basis, residential building showed the largest rise in volume, increasing by 11.3%. Non-residential building also exhibited strong growth, with an 8.5% increase, while Civil Engineering rose by 1.9%.
Year on year the sector’s marked growth was driven by residential building, increasing by a remarkable 31.2%. Non-residential building also had a strong showing with an 18.5% annual increase, although civil engineering activity decreased by 6.1%.
Despite these figures, the sector must not be complacent. There remains work to do in terms of improving productivity through continued investment in research, development and education and, as the Chartered Institute of Building’s new Real Face of Construction report points out, examining ways in which we measure construction to ensure we have an accurate picture of how the sector is performing. We must also bear in mind the lessons from Ireland’s recent past, and ensure that we focus on quality, rather than just numbers.
Caroline Gumble, Chief Executive of the CIOB, said: “These figures are encouraging and show that - thanks to the hard work of CIOB members and stakeholders across the sector - construction continues to drive Ireland’s economic resurgence.”
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The Production in Building and Construction Index, a short-term measure of activity in the sector by volume and by value, was released on 6 March...