Rate of decline in construction sector slows but firms continue to axe jobs

THE rate of the ongoing decline in business activity in Ireland’s construction sector slowed last month, but July also saw a faster rate of job cuts as companies continued to adapt to lower order levels.

While the latest edition of the monthly Ulster Bank Construction Purchasing Managers’ Index (PMI) predictably detailed continuing tough times for those in the building industry, July’s survey was something of a mixed bag.

Business activity continued to decline, along with new business orders, but the rate of decline slowed. The fall in new business levels was at its slowest pace since March of last year.