Rate of sector’s decline slowing

SIGNS of improvement are being seen in the construction sector, but firms are witnessing a significant rise in some prices.

Latest figures show there’s still a lack of new business in the sector but looking a year ahead, constructors expect activity to be slightly higher than the current depressed levels.

The Ulster Bank construction purchasing managers index (PMI), which measures activity in the sector, found that new business and employment both fell at faster rates in February, but the rate of contraction in Irish construction activity continued to ease from the sharp falls at the end of 2010.