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11/05/2009
Construction Sector Yet To Build From Decline
The construction sector is to continue its current decline according to the latest report by the Ulster Bank.
The report says that although the decline in commercial sector activity appears to be bottoming out, further deterioration is still expected in civil engineering activity.
The bank's Purchasing Managers' Index shows that employment is continuing to decline substantially, while new business activity has also dropped sharply.
The news comes as the Leader of the Labour Party, Eamon Gilmore, today launched a Back to Work with Labour ten point plan to get the country back to work
Many of the policies hope to kkickstart the building sector, which was an intrinsic part of the growth of the Celtic Tiger.
Mr Gilmore's plan includes measures to nationalise the banks for a limited period and get credit flowing to small businesses, clearing out the top management in the banks and establishing a Banking Commission, giving employers tax breaks to take people off the dole, and launching a Skills Drive for people who have lost jobs, including tax-back for full-time study.
The plan also includes re-establishing Eircom as a public interest company and boosting confidence by guaranteeing that no home will be repossessed for two years.
(DW/BMcC)
The report says that although the decline in commercial sector activity appears to be bottoming out, further deterioration is still expected in civil engineering activity.
The bank's Purchasing Managers' Index shows that employment is continuing to decline substantially, while new business activity has also dropped sharply.
The news comes as the Leader of the Labour Party, Eamon Gilmore, today launched a Back to Work with Labour ten point plan to get the country back to work
Many of the policies hope to kkickstart the building sector, which was an intrinsic part of the growth of the Celtic Tiger.
Mr Gilmore's plan includes measures to nationalise the banks for a limited period and get credit flowing to small businesses, clearing out the top management in the banks and establishing a Banking Commission, giving employers tax breaks to take people off the dole, and launching a Skills Drive for people who have lost jobs, including tax-back for full-time study.
The plan also includes re-establishing Eircom as a public interest company and boosting confidence by guaranteeing that no home will be repossessed for two years.
(DW/BMcC)
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Ireland WeatherThis Evening and Tonight:Bright spells with a few showers continuing through this evening. Some drier, clearer periods in the early hours, before cloud builds and showers turn more persistent towards dawn. Minimum temperature 4 °C.
