Ireland's construction sector expanded strongly at the start of the year, though the rate of growth eased for the third straight month, survey figures from IHS Markit showed Monday.

The Ulster Bank Construction Purchasing Managers' Index fell to 55.7 in January from 58.9 in December. However, any reading above 50 indicates expansion in the sector.

Among sectors, the stronger growth recorded on housing projects, followed by commercial building activity. Meanwhile, civil engineering activity declined for the third month running in January.

New orders rose at a sharp, but reduced pace in January. Rising workloads drove a further increase in employment in January. Moreover, the rate of job creation was the second-fastest in the survey's history.

On the price front, input prices inflation accelerated to the highest since February 2007, driven by higher prices of oil-related products and rising costs for items from UK suppliers.

The material has been provided by InstaForex Company - www.instaforex.com

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