Building activity falls again

Construction activity remained in decline in May, meaning the sector has now been in freefall for five years.

A resolutely downbeat latest edition of Ulster Bank’s Construction PMI summed up the sector’s latest woes: “New orders decreased at a solid rate during the month, falling workloads led to a further reduction in staffing levels, and firms cut their purchases of inputs at an accelerated pace.”

The May index was measured at 46.3 points. Although better than the 45.4 reading in April, it is still well below the neutral 50 point mark, which divides an industry in growth mode from one in decline.