Construction Ireland Construction Directory
Time and date
CONSTRUCTION DIRECTORY
Share this page
Construction News
14/05/2009

Irish Construction Industry 'Past The Worst', Says UB

Construction News Image
A leading bank has suggested the Irish building sector could be "past the worst" of the continued downturn.

According to the Ulster Bank, the decline in commercial activity "bottomed out" last month.

In its latest Construction Purchasing Managers Index, the bank also said the rate of employment losses in the sector had leveled off in April.

The seasonally adjusted index - which is designed to measure the overall performance of the construction industry - rose to 32.9 in April from 28.1 in March.

-- Advertisement --

However, it still remained below the 50 mark which divides expansion from contraction.

Housing sector activity performed worst out of the three listed categories.

However, figures rose from 26.7 in March to 30.9 in April.

Ulster Bank economists said the housing index is now back at late-2007 levels.

The index also recorded an easing in the pace of decline of civil engineering projects last month.

According to the report the decline in commercial activity appears to have bottomed out.

Describing this as a "welcome positive", the Ulster Bank did predict activity will remain subdued for the foreseeable future.

"As early signs of stabilisation, albeit tentative, become evident abroad, the Irish construction sector may be past the worst," said Ulster Bank's Lynsey Clemenger.

"Nevertheless, it will be some time before activity ceases to contract and the employment situation improves," she added.

(PR/JM)

Latest Construction News

15/11/2024

An emergency road closure has been announced following serious structural integrity concerns of the former Antrim Arms Hotel building on Castle Street in Ballycastle. Following genuine fears surrounding the safety of the building's structure, Causeway Coast and Glens Borough Council have ...
15/11/2024

A pre-design public consultation for the Dublin-based College Green - Dame Street Public Realm Project has been launched. The proposal to remodel College Green and Dame Street is a joint initiative by Dublin City Council and the National Transport Authority. The project aims to transform Dublin's ...
15/11/2024

A new plan which aims to fill vacant homes and revitalise derelict buildings has been proposed by Ireland's Green Party. The Dereliction and Building Regeneration Bill put forward by the party aims to establish a single permitting system for fire, accessibility and planning in a one-stop-shop for ...
15/11/2024

Works will begin next week to provide a more reliable water supply in County Kildare, Uisce Éireann has announced. The improvements, which will take place in Allenwood, will also target the reduction of high levels of leakage. GMC Utilities Group are carrying out the works on behalf of Uisce ...
15/11/2024

Essential wastewater improvements being made to the North Street area in Carrickfergus are set to be completed on Friday, November 22, NI Water has announced. Further works will recommence to the area on January 6, after the busy Christmas period. The work is part of a major investment to improve ...
15/11/2024

A forthcoming road closure in Wicklow has been announced by the County Council ahead of essential roadworks which are suspected to last a week. The closure will impact the L-69052 road in Arklow and will take place on the junction of the L2901, Laffin's Lane and The Brook, from Monday, November ...
14/11/2024

A L'Derry park was visited by the Minister of Agriculture, Environment and Rural Affairs yesterday following the completion of extensive works. Manor Park in Moneymore welcomed Minister Andrew Muir MLA, who made the trip to see the result of extensive works which totalled £260,000. The ...
14/11/2024

A Railway Order planning application will be made by Transport Infrastructure Ireland (TII) regarding the major Luas Finglas project. The application will be submitted to An Bord Pleanála on Monday, November 18, while the public can make submissions about the proposed light rail line from November ...
14/11/2024

A new €8.8 million social housing scheme officially launched in County Louth recently. The Ferrard Park development in Drogheda contains 28 new houses which were acquired by Louth County Council from CFS Homes for tenants from the council's social housing waiting list. The houses, which include a ...
14/11/2024

A number of projects across Wicklow aimed at addressing the negative impacts of climate change have received a significant cash boost. Wicklow County Council and The Department of the Environment, Climate and Communications announced an allocation of €675,574.33 to 20 community groups across the ...
Southern Crusher Spares LtdDistinctive Painting GalwayDecomin Paints IrelandGS Concrete PumpingFleming DoorsScannell Safety ServicesShannonside GalvanizingTool FixFreefoam Plastics (Ireland)Slanetrac
Terms and Conditions
2024/11/16 06:49:23