The number of new companies being formed in the Irish construction industry has been decreasing consistently every quarter since the start of 2009, new figures have revealed.

However, the latest statistics released by ICC Formations suggest that the overall economic downturn may be easing somewhat with the total number of new companies incorporated in the fourth quarter of 2009 increasing by 6% compared to the same period in 2008.

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Whilst overall 2009 saw 1,454 less companies being formed than in 2008, the last 4 months of the year saw "consistent increases" on the number of companies formed compared to the corresponding period in 2008.

Dublin was the most popular county for company formations last year, with 45% of new companies setting up in the area.

(NS/GK)