Pace of construction job losses slows

OPTIMISM is returning to the construction sector with latest figures showing the most severe point of contraction may be over as job- shedding eases and confidence improves.

The latest Ulster Bank Purchasing Managers Index (PMI), which measures the strength of the sector, showed that although activity continued to decline in June, the pace of reduction eased to its slowest in more than a year.

Although it showed some positive trends, the index also pointed out that new business fell substantially last month, while further job cuts were also indicated.