Building activity down again after brief respite

Construction activity has fallen at the start of 2012 following a brief period of stabilisation at the end of 2011.

The latest Ulster Bank construction purchasing managers’ index records a fall to 46.4 in January from 49.9 the previous month. Anything above 50 indicates growth. The reading signalled the fastest reduction in activity in three months.

Employment in the sector continues to fall, as it has done every month since May 2007. Against that, commercial property offered some mild signs of recovery for the first quarter of 2012.