The slowdown in the output of Irish construction has led to an industry forecast group to reduce its output figures for next year's European market.

Euroconstruct, an organisation that spans 19 countries across Europe, has predicted a reduced growth of 1.4% in European construction next year. In June the group expected a 1.8% growth in 2008, following almost 2% in 2007.

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The latest figures show most of the reduction is due to slower new residential construction, with Ireland showing the biggest forecast decline of 22%.

In total Ireland accounts for construction output of €35bn a year, against a total European market which is worth €1,228bn.

(NS/SP)