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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)
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