Irish construction sector continued to deteriorate in June but sentiment improved

Jul 13th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Irish construction sector continued to deteriorate in June. Activity fell substantially again during the month, as did new business. Further job cuts were also indicated, although the rate of job shedding eased markedly. The Ulster Bank Construction Purchasing Managers’ Index (PMI) - - a seasonally adjusted index designed to measure the overall performance of the construction economy - - rose to 36.3 in June, from 31.1 in May. Although the pace of reduction eased to its slowest since March 2008, it remained considerable. The contraction was largely attributed to the continuing recession in Ireland. Sentiment in the sector, improved.

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