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22/10/2013
NI Construction Sector Out Of Recession
A new survey has said Northern Ireland's construction industry is out of recession, with an increase in workloads being reported for the first time in more than five years.
The survey, from the Royal Institution of chartered Surveyors (RICS), however said NI is still falling behind the rest of the UK when it comes to recovery.
It has been estimated that at least 26,000 jobs in the region has been lost since 2008, around 30% of the workforce, but there is caution and "positivity" within the sector.
Spokesman Jim Sammon is quoted as saying: "It is encouraging to see the workload balance turn positive following a long period in which the construction market has experienced a very significant downturn.
"We are talking about small improvements from a low base and key challenges remain.
"Finance is tight, private sector activity remains scarce, and public sector demand remains constrained. We urge the NI Executive to encourage and nurture a recovery by increasing infrastructure spending."
(JP/CD)
The survey, from the Royal Institution of chartered Surveyors (RICS), however said NI is still falling behind the rest of the UK when it comes to recovery.
It has been estimated that at least 26,000 jobs in the region has been lost since 2008, around 30% of the workforce, but there is caution and "positivity" within the sector.
Spokesman Jim Sammon is quoted as saying: "It is encouraging to see the workload balance turn positive following a long period in which the construction market has experienced a very significant downturn.
"We are talking about small improvements from a low base and key challenges remain.
"Finance is tight, private sector activity remains scarce, and public sector demand remains constrained. We urge the NI Executive to encourage and nurture a recovery by increasing infrastructure spending."
(JP/CD)
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