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Optimism for Irish construction

Published:  12 July, 2010

DUBLIN: Irish construction shrank at the slowest pace in almost three years in June as the economy stabilized after the recession, according to Ulster Bank's monthly report released today.

Its Construction Purchasing Managers' Index rose to 44.9 in from 40 in May and said new construction orders fell the least since August 2007.

Builders remained "strongly optimistic" for the next year, Ulster Bank said. The Irish construction sector has shrunk 35% from a year earlier.