11/10/2010
Construction Trade Continues To Shrink
Job losses have accelerated within the building trade for the fifth month in a row.
Overall, the local economy continued to suffer, but this was particularly true in the construction sector with the latest report on the economy from the Ulster Bank revealing that the downturn in the Northern Ireland private sector continued in September.
It said the NI economy is still in decline but there were some signs of recovery across the rest of the UK.
It highlighted that construction firms are shedding jobs at the fastest rate since March last year.
Ulster Bank Chief Economist Richard Ramsey said that is likely to continue following next week's Comprehensive Spending Review, which is expected to reveal big cuts in areas such as roads, schools, and hospitals.
"The construction sector has already been badly hit by the downturn in the housing business," Mr Ramsey said.
"While spending on infrastructure had held up well until the beginning of this year, it has been declining since then, and next week we are likely to hear about major cutbacks in public sector investment.
"The Spending Review is likely to have a more negative impact on Northern Ireland than elsewhere," Mr Ramsey said.
(BMc)
Overall, the local economy continued to suffer, but this was particularly true in the construction sector with the latest report on the economy from the Ulster Bank revealing that the downturn in the Northern Ireland private sector continued in September.
It said the NI economy is still in decline but there were some signs of recovery across the rest of the UK.
It highlighted that construction firms are shedding jobs at the fastest rate since March last year.
Ulster Bank Chief Economist Richard Ramsey said that is likely to continue following next week's Comprehensive Spending Review, which is expected to reveal big cuts in areas such as roads, schools, and hospitals.
"The construction sector has already been badly hit by the downturn in the housing business," Mr Ramsey said.
"While spending on infrastructure had held up well until the beginning of this year, it has been declining since then, and next week we are likely to hear about major cutbacks in public sector investment.
"The Spending Review is likely to have a more negative impact on Northern Ireland than elsewhere," Mr Ramsey said.
(BMc)
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16 June 2006
NI economy continues to perform well
A report published today has shown that the Northern Ireland economy continues to perform well. The Northern Ireland labour market is currently benefiting from historically high levels of employment and continuing low unemployment, and the latest figures show that annual economic growth is above the UK average.
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A report published today has shown that the Northern Ireland economy continues to perform well. The Northern Ireland labour market is currently benefiting from historically high levels of employment and continuing low unemployment, and the latest figures show that annual economic growth is above the UK average.
21 July 2011
NI Construction Sector Continues To Shrink
Construction output in Northern Ireland has continued to dip, according to the latest figures from the NI Statistics and Research Agency (NISRA). The quarterly construction bulletin revealed output was down by 13.5% year-on-year in the first three months of 2011. Housing output dropped by 15%, repair and maintenance work fell by 4.
NI Construction Sector Continues To Shrink
Construction output in Northern Ireland has continued to dip, according to the latest figures from the NI Statistics and Research Agency (NISRA). The quarterly construction bulletin revealed output was down by 13.5% year-on-year in the first three months of 2011. Housing output dropped by 15%, repair and maintenance work fell by 4.
16 November 2010
NI Colleges Sign-up To US Co-operation
An international agreement between colleges in the USA and NI-based colleges will lead to better working relationships with the local institutions able to share expertise with their counterparts in the US.
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13 August 2010
Derry Construction Projects Boosted
Continuing public sector investment in the North West plays a key role in transforming the UK City of Culture 2013, NI Finance Minister, Sammy Wilson has said.
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14 September 2009
Ulster Bank Sees Recession Easing
Although the building trade continues to be hardest hit, overall economic activity is increasing. While construction is still wavering, the Ulster Bank has reported that over one in four firms have seen a rise in business activity in August, a figure not seen since October 2007.
Ulster Bank Sees Recession Easing
Although the building trade continues to be hardest hit, overall economic activity is increasing. While construction is still wavering, the Ulster Bank has reported that over one in four firms have seen a rise in business activity in August, a figure not seen since October 2007.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
