Construction sector woes worsen

THE contraction of the battered construction sector is accelerating with orders and employment continuing to fall, the Ulster Bank Construction Purchasing Managers’ Index indicates.

The seasonally adjusted index, designed to track changes in total construction activity, decreased to 40.5 in June, from 41.1 in May, to signal a further steep decline in activity. The rate of contraction accelerated for the fourth successive month, and was the sharpest since May 2010.

Ulster Bank’s Republic of Ireland chief economist Simon Barry said the monthly index shows there were no signs of any imminent improvement in the Irish construction sector