Construction industry set for soft landing
04/10/2006 - 13:25:29A new report published today predicts that the construction sector is set to slow gradually over the next two years, but the overall result is that it will still remain a key component of the Irish economy.
The Goodbody report reveals that the construction sector accounts for 23% of the country's GDP, compared to an average of about 12% in the EU.
The report forecasts that new residential building activity will peak this year at 92,000 and remain at relatively high levels next year, with 88,000 units set to be completed.
It predicts that completions will fall to 77,000 units in 2008, with supply levels starting to fall to an average of about 68,000 until 2011 in line with demographic demands.
