Newly published figures have shown that the number of businesses going bust has slowed since the start of the year.

According to data complied by Insolvencyjournal.ie, 1,025 companies were deemed insolvent in the first nine months of 2013, a fall of 20% compared to the same period in 2012.

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In the construction industry, one of the hardest hit by the economic downturn, 256 companies were declared insolvent, a drop of 17%.

Elsewhere, despite 2013 showing the lowest number of new homes built since records began in 1970, the Ulster Bank Construction Purchasing Managers' Index climbed in August for the fourth consecutive month.

The Central Statistics Office also noted recently that the number of approved planning permissions for dwellings around the country rose 37pc in the second quarter of 2013 compared to the corresponding period in 2012.

(MH/IT)