Irish construction sector business conditions continued to deteriorate sharply in April; Decline in commercial activity appears to have bottomed out

May 11th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
April data signalled a further marked deterioration of operating conditions in the Irish construction sector. Employment declined substantially, while the falls in activity and new business remained sharp. The Ulster Bank Construction Purchasing Managers’ Index (PMI) – a seasonally adjusted index designed to measure the overall performance of the construction economy – rose to 32.9 in April, from 28.1 in March, but remained below the no-change mark of 50.0 that divides expansion from contraction. Falling activity continued to be linked to the wider economic downturn in Ireland. However, decline in commercial activity appears to have bottomed out.

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