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| (08/03/2010) |
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| The rate of decline in activity within the construction sector slowed for a second consecutive month in February,
While construction activity declined sharply, the pace of contraction was the slowest in 27 months, according the latest figures from the Ulster Bank Construction Purchasing.
The index rose to 40.4 in February from 36.1 the previous month. Any figure under 50 signals contraction in the industry.
February also saw the 34th consecutive month of job cuts in the building industry.
"The latest reading of the Ulster Bank Construction PMI shows that a lack of new business is continuing to weigh on the domestically-focused construction sector," said Ulster Bank economist, Lynsey Clemenger.
"Activity remained well into contractionary territory in February, albeit that the pace of decline was the slowest since November 2007."
Source: build.ie |
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