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Builders still feeling the pain
3 Nov 2009That the country is still stuck in recession comes as no news to the building industry.
Latest construction activity figures reveal the market contracted for the second month in succession and last month it fell at a faster rate than in September.
“The sector is still struggling appreciably,” said Global Insight economist Howard Archer.
Simon Rubinsohn at the surveyors body RICS said: “Although the advancing of public-sector capital programmes is providing some much-needed support for construction companies, it is clearly not sufficient to offset the weakness in both the private commercial and housing categories.”
The Chartered Institute of Purchasing and Supply reported its construction activity index at 46.2 in October down from 46.7 in September and the 18-month high of 47.7 in August. A figure below 50 means the industry is contracting.
Reader views (1)
We are a Construction Company of approx 4Mill, we are finding tenders are limited in supply and prices have reduced. We can't see an increase in workload for the forseeable future, this winter will be difficult and its a case of waiting for some form of recovery in the spring.
- Richard Yorke, Cheltenham england, 03/11/2009 16:06
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