Contraction within the construction industry has continued for the 34th month in a row, according to the latest Ulster Bank Purchasing Managers’ Index (PMI).

However, the decline was at least at a slower pace than in recent times – with the index showing the smallest fall since October 2007.

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The PMI rose to 42.3 in March, up from 40.4 in the previous month. The figure still remains some way off expansion threshold of 50, however.

"While the construction sector is lagging behind manufacturing and services, which are both now in the process of stabilising, at least the rate of contraction does look to be easing back,'' said Ulster Bank Chief Economist, Simon Barry.

(NS/BMcC)