Rate of decline in construction slows

THE rate of contraction in construction activity eased again in March, but the level of under-performance in the sector remained sharp.

March data from the Ulster Bank Construction Purchasing Managers’ Index (PMI) demonstrated a further slowing in the pace of deterioration of business conditions in Irish construction.

That easing reflected weaker falls in activity, new orders and employment, according to the PMI. Ulster Bank said yesterday that despite the improvement “the respective rates of decline for these series were still marked”.