Construction industry unlikely to recover until next year, index predicts

IT WILL be another year before the construction sector moves towards recovery as new figures show jobs are still being shed and orders reduced.

The latest Ulster Bank purchasing managers index showed activity in the construction industry continued to fall at a considerable pace last month.

Employment was cut sharply again and the index, which is designed to measure the overall performance of the construction industry rose only slightly to 34.5 from 34.2 in September. Index readings over 50 signal an increase in activity on the previous month.