Isle of Man construction industry remains 'depressed'
The Isle of Man's construction industry "remains depressed", according to an independent economic report.
The report, which covers 1 April to 30 June, pinpoints a "lack of confidence" within the sector.
It says problems facing the industry include rising material prices, a lack of new development and fewer bank loans in speculative projects.
The report also cites difficulties in obtaining planning permission as a significant issue for building firms.
The Isle of Man's construction industry currently has the largest proportion of unemployment.
About 6% of the total amount of people employed in the industry were out of work in June 2011.
The economic report refers to a recent independent survey conducted by PricewaterhouseCoopers.