Construction sector moves closer to stabilisation

Monday 09 September 2013 11.11
Ulster Bank's construction PMI came in at 49.7 - just below the break-even mark
Ulster Bank's construction PMI came in at 49.7 - just below the break-even mark

The construction sector moved closer to stabilisation last month, according to Ulster Bank’s latest Construction Purchase Managers’ Index.

The survey shows that new business continued to show signs of growth in August, up for the second successive month, while business optimism improved to the strongest level since January 2007.

Employment and purchasing activity continued to fall but the rates of decline eased in each sector.

The overall index came in at 49.7, which indicates a still contracting sector. However it is just below the break-even 50 mark, putting it within reach of stabilisation for the first time in many years.