Construction decline accelerates

Activity in the construction sector declined at its sharpest rate so far this year during March, according to new data.

The development means that the building industry has now been in decline for 70 consecutive months, or nearly six straight years.

The latest edition of the monthly Ulster Bank Construction Purchasing Managers’ Index — which tracks the health of the sector — posted a reading of 43.1 points for March. Still well below the neutral 50 point mark, which separates a sector in growth mode from one in decline, the March reading was significantly down on February’s 45.3 point reading.