Construction’s decline accelerates

THE construction sector’s decline accelerated in October, with civil engineering leading the plunge, according to the Ulster Bank Construction Purchasing Managers’ Index.

Job losses in the building sector continued as confidence fell again.

Commenting on the survey, Lynsey Clemenger, economist at Ulster Bank, said the latest reading of the index showed that the rate of contraction in the sector had accelerated for the second month running in October. “While the headline index remains off the record lows seen at the start of last year, at 42.3 it is at the lowest level since May,” she said.