Survey suggests 'strong growth' for NI construction

The survey is good news for the construction industry

An official survey of businesses in Northern Ireland suggests the construction sector underwent significant growth in 2016.

The Annual Business Inquiry (ABI) collected financial information from a representative sample of 9,000 businesses.

The data was used to calculate a measure of output known as approximate Gross Value Added (aGVA).

It showed the aGVA of the construction sector increased by £356m, almost 19%.

That took construction aGVA to £2.25bn, the highest figure since 2008.

The aGVA represents the income generated by businesses, less the costs of goods and services used to create that income.

The survey also suggests there was strong growth in manufacturing with aGVA increasing by almost 6%.

The non-financial services sector, which represents more than a third of business output, saw aGVA increase by almost 4%.

However, the performance of the retail sector was essentially flat with aGVA increasing by just 0.8% year on year.