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Decline In Irish Construction Activity Slows In March

4/11/2012 12:14 AM ET

The Irish construction sector remained in contraction in March, but the pace of deterioration in activity eased over the month, a survey by Markit Economics showed Wednesday.

The Ulster Bank Construction Purchasing Managers' Index, a seasonally adjusted index designed to track changes in total construction activity, rose to 46.7 in March, from 45.8 in the previous month. A PMI reading below 50 suggests contraction.

The new orders index rose in March, and has returned very close to the breakeven mark of 50. This indicated that the multi-year slump in orders may finally give way to a less negative pattern, the report said.

Each of the main sub-sectors, namely civil engineering, housing and commercial construction, continued to decline in March.

by RTT Staff Writer

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