Slowdown in building job losses

THE pace of job cuts in the construction sector has started to slow, although latest figures show there is still a sharp deterioration in business conditions.

The latest Ulster Bank purchasing managers index (PMI) shows activity, new orders and employment fell steeply last month, while input costs decreased at the second-fastest pace in the series history.

The index dropped to 31.1 in May, from 32.9 in April, index readings above 50 signal a positive performance.