Menu
12/01/2010
Further Slide For Irish Construction Sector
Conditions facing the Irish construction industry fell again in December, at the fastest rate in seven months.
The latest Ulster Bank survey has revealed that activity, new business and employment all fell sharply during the month.
The seasonally adjusted Ulster Bank Construction Purchasing Managers' Index dropped to 33.1 in December from 34.2 in November.
The figures represent the 31st consecutive monthly reduction in activity and the sharpest decline since May 2009.
For the second successive month, firms taking part in the survey said they expected activity in a year's time to be lower than at present.
Ulster Bank economist Simon Barry said the latest results showed a "very weak end to what was an exceptionally challenging year for the sector".
He said: "The overall activity index fell back to its lowest level since May of last year. At 33.1, the index remains considerably below the no-change benchmark level of 50 and continues to point to a sector that is contracting deeply."
A reading of less than 50 indicates a worsening in conditions.
(NS/BMcC)
The latest Ulster Bank survey has revealed that activity, new business and employment all fell sharply during the month.
The seasonally adjusted Ulster Bank Construction Purchasing Managers' Index dropped to 33.1 in December from 34.2 in November.
The figures represent the 31st consecutive monthly reduction in activity and the sharpest decline since May 2009.
For the second successive month, firms taking part in the survey said they expected activity in a year's time to be lower than at present.
Ulster Bank economist Simon Barry said the latest results showed a "very weak end to what was an exceptionally challenging year for the sector".
He said: "The overall activity index fell back to its lowest level since May of last year. At 33.1, the index remains considerably below the no-change benchmark level of 50 and continues to point to a sector that is contracting deeply."
A reading of less than 50 indicates a worsening in conditions.
(NS/BMcC)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
11 May 2009
Downturn 'Ending', Says Ulster Bank
Signs of economic improvement show that the worst of the economic downturn in Northern Ireland has passed. A new report from Ulster Bank suggests that, although NI's private sector has seen business activity fall sharply and at a much faster rate than the UK average, there are now signs of improvement.
Downturn 'Ending', Says Ulster Bank
Signs of economic improvement show that the worst of the economic downturn in Northern Ireland has passed. A new report from Ulster Bank suggests that, although NI's private sector has seen business activity fall sharply and at a much faster rate than the UK average, there are now signs of improvement.
04 August 2009
Northern Rock Rocked By Losses
A nationalised bank funded by huge amounts of taxpayers' money has reported a loss of £724.2m for the first six months of 2009. Northern Rock's losses accelerated when compared with a loss of £585.4m in the first half of last year. In stark contrast to the news yesterday that Barclay's pre-tax profits for the first six months of 2009 topped £2.
Northern Rock Rocked By Losses
A nationalised bank funded by huge amounts of taxpayers' money has reported a loss of £724.2m for the first six months of 2009. Northern Rock's losses accelerated when compared with a loss of £585.4m in the first half of last year. In stark contrast to the news yesterday that Barclay's pre-tax profits for the first six months of 2009 topped £2.
13 September 2010
Construction Decline 'Slowing'
The contraction in the country's construction market has slowed to its lowest rate since June 2007, suggesting a tentative recovery in the sector. But, the construction activity fell again for the 39th month in a row in August, according to the latest Construction Purchasing Mangers index from Ulster Bank.
Construction Decline 'Slowing'
The contraction in the country's construction market has slowed to its lowest rate since June 2007, suggesting a tentative recovery in the sector. But, the construction activity fell again for the 39th month in a row in August, according to the latest Construction Purchasing Mangers index from Ulster Bank.
15 April 2009
Recession Hitting NI Retailing And Construction Sectors Hardest
While the construction industry 'led' the way in a league of poorly performing NI businesses sectors, it has emerged that retail businesses have also performing been badly in the local economy this year.
Recession Hitting NI Retailing And Construction Sectors Hardest
While the construction industry 'led' the way in a league of poorly performing NI businesses sectors, it has emerged that retail businesses have also performing been badly in the local economy this year.
23 April 2002
UK manufacturing sector showing signs of recovery
The Confederation of British Industry (CBI) has said that the struggling UK manufacturing sector is beginning to show signs of recovery. In its latest snapshot of industrialists' views its Quarterly Industrial Trends Survey showed that confidence among manufacturers had risen for the first time in more than two years.
UK manufacturing sector showing signs of recovery
The Confederation of British Industry (CBI) has said that the struggling UK manufacturing sector is beginning to show signs of recovery. In its latest snapshot of industrialists' views its Quarterly Industrial Trends Survey showed that confidence among manufacturers had risen for the first time in more than two years.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
