Building sector growth slows

Construction sector growth slowed sharply in the first month of the year but failed to dent firms’ appetite for new workers which remained strong, the latest Ulster Bank Construction PMI shows.

The Purchasing Managers’ Index — which dropped to 57.1 in January from 63.1 the previous month — shows rates of expansion in activity and new orders slowing significantly from the end of 2014.

While still expanding, the drop resulted in the weakest level of growth for almost a year with a marked slowdown in the rate of housing activity recorded.