Construction continues to contract

The construction sector continues to contract, with employment levels still falling and lower purchasing activity, although sentiment about future prospects is improving, according to the Ulster Bank Construction PMI.

The Index came in at 43.4 in June, which is an increase on the 42.0 posted in May. Anything below 50 denotes a contraction in activity.

Commenting on the survey, Simon Barry, chief economist Republic of Ireland at Ulster Bank, noted: “While survey respondents continue to experience very challenging conditions at present, some forward-looking elements of the survey offered some encouragement about future prospects. Notably, the New Orders index rose to its highest level since March 2012.