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Sign of stabilisation in building sector

Thursday, March 14 11:26:37

There were signs of potential stabilisation in the construction sector in the last quarter of 2012 with the volume of output positive for the second time since 2007, latest CSO figures showed today.

The volume of output in building and construction was 3.3pc higher in the fourth quarter of 2012 when compared with the preceding period.

The whole of 2012 saw a decline in output in the sector of 7.8pc. But this compares to declines of 17pc in 2011, 30.3pc in 2010 and 36pc in 2009.

Quarter 4's figures reflect increases of 7.6pc and 18.8pc respectively in non-residential building and civil engineering. There was a decrease of 8.3pc in the volume of residential building. The change in the value of production for all building and construction was +7.0pc.

On an annual basis, the volume of output in building and construction decreased by 5.6pc in the fourth quarter of 2012. The value of production increased by 1.6pc in the same period.

The annual fall in the volume of output reflects year-on-year declines of 25.0pc and 8.4pc respectively in residential building work and non-residential building work. Output in civil engineering increased by 25.0pc.