All the graphs are leading upwards in construction activity. That is despite dysfunctional finance and a desert of specialist talent. Subcontractors were the specialist talent but having borne the brunt of the last bust, ruined they left our shores for a fairer and more prosperous way of doing business. Welcomed in open arms by the UK, Canada, Australia and the US, subbies realised that you don't have to get screwed to work with building contractors. That's because the legal framework and the industry culture wasn't built around gombeenism. A subcontractor could expect justice over a payment dispute, albeit rough justice which resulted in a rapid determination of a claim. Not a 2 year legal labirinth like arbitration here in Ireland. Let's hope that adjudication can deliver what was intended - rapid determination of payment disputes to avoid subcontractors going out of business to prop up cash strapped contractors. More to follow in this space once the Construction Contracts Act is commenced.
The Ulster Bank PMI shows activity increased in each of the past 28 months Activity in the construction sector surged to a five-month high in December as the industry finished 2015 on a positive note, a new survey showed. The Ulster Bank construction purchasing managers’ index (PMI), a seasonally-adjusted index designed to track changes in the sector, rose to 58.6 in December from 55.5 in November. Activity has now increased in each of the past 28 months, with the latest expansion the strongest since July. The report showed a strong acceleration in both commercial and housing activity but growth in civil engineering continued to lag behind although it expanded for the fourth consecutive month in December.