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Construction sector in Northern Ireland out of recession | Construction sector in Northern Ireland out of recession |
(about 7 hours later) | |
The construction industry in Northern Ireland has "exited recession". | The construction industry in Northern Ireland has "exited recession". |
A rise in workloads has been reported for the first time in over five years. | A rise in workloads has been reported for the first time in over five years. |
However, a Royal Institution of Chartered Surveyors (RICS) survey said the region still lags behind the rest of the UK in terms of recovery. | However, a Royal Institution of Chartered Surveyors (RICS) survey said the region still lags behind the rest of the UK in terms of recovery. |
A spokesman said: "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." | A spokesman said: "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." |
The industry estimates it has lost at least 26,000 jobs in NI since the 2008 downturn - about 30% of its workforce. | The industry estimates it has lost at least 26,000 jobs in NI since the 2008 downturn - about 30% of its workforce. |
But the RICS sounded a note of caution amid "positivity" in the sector. | But the RICS sounded a note of caution amid "positivity" in the sector. |
"We are talking about small improvements from a low base and key challenges remain," said spokesman Jim Sammon. | "We are talking about small improvements from a low base and key challenges remain," said spokesman Jim Sammon. |
"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," he said. | "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," he said. |
There has been some relief in this respect. | There has been some relief in this respect. |
Money initially allocated to the stalled A5 upgrade between Londonderry and Aughnacloy has been redistributed to other road projects at Ballymena and Magherafelt, among others. | Money initially allocated to the stalled A5 upgrade between Londonderry and Aughnacloy has been redistributed to other road projects at Ballymena and Magherafelt, among others. |
Patsy McGlone, the chair of the Stormont All Party Group on Construction, welcomed the news, but said he remained cautious. | |
"This announcement indicates a move in the right direction for the construction industry, which has suffered greatly during the economic downturn," he said. | |
"The scrapping of such high profile projects, such as the Maze (peace centre), has been bad news for potential construction jobs in the North. | |
"Action needs to be taken by the executive, to ensure that all viable construction projects are completed in order to achieve the maximum number of jobs in the industry." |
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