Northern Ireland's construction market shows some decline

Northern Ireland is witnessing a decline in construction but a rise in repair and maintenance work, according to today's (Friday) latest survey on construction firms by the Central Survey Unit of the Northern Ireland Statistics and Research Agency.

Figures for the period 1 July to 30 September 2002 show that the estimated seasonally adjusted value of construction output was £466m - down 0.6% on a previous quarterly figure of £469m and declining 0.9% against the same period in 2001 which stood at £470m.

Latest index figures show that construction now stands at 117.1, declining 0.8 points on a previous quarter figure of 117.9 and down 1.0 points on the corresponding quarter in 2001 which was calculated at 118.1.

The index values for new work was 126.9, a decrease of 0.5 points on the quarter ending 30 June 2002 which stood at 127.4.

However the figure is a fall of 3.5 points on the same quarter in 2001 recorded at 130.4.

Meanwhile, the index for repair and maintenance work showed a rise at 93.4, up 2.4 points on the previous quarter's figure of 91.0 and a 6.2 point rise against the same quarter last year at 87.2.