Building sector reliance 'must end'

THE Central Bank has warned that the economy's reliance on the construction sector cannot continue indefinitely.

The bank's governor, John Hurley, said that the size and contribution of the construction industry to the country's economic growth is "beyond what is sustainable in the long run."

Publishing the bank's annual financial stability report yesterday, Mr Hurley said the construction industry is currently building more than 70,000 housing units a year, more than the 50,000 it believes is required.