Construction activity continues to fall in February

Activity in the Irish construction sector continued to fall in February, according to the latest Ulster Bank Construction Purchasing Managers’ Index.

The index posted 45.3 in February, slightly lower than the 45.8 reading in January. A figure below 50 indicates a decline in activity.

According to respondents, lower new work was a key factor behind the decline. John Fahey, Ulster Bank economist, said: “The February reading indicates that the business environment remains challenging for Irish construction firms."