The construction industry entered 2009 with its sharpest falls in output since 1980 and new orders since 1983.
Construction industry forecasts for the coming year indicate the sector will suffer a 12% fall in output - the worst on record, followed by a further fall of 3.4% in 2010. Significant positive growth is only expected in 2012 and by the end of the forecast period, in 2013, construction output is still expected to be below levels experienced in 2002.
The latest industry forecasts come from the Construction Products Association. Noble Francis, economics director at the CPA said; "The current economic recession is now having a major impact on our industry and this is the most serious downturn most of us in the industry have ever experienced. We have already lost 60 000 jobs with more expected to follow and an estimated 12 000 construction workers on short time working."
The report says that any upturn in construction will be critically dependent upon an increase in credit availability in the private sector and government spending in accordance with its announced plans on the public side.

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17/04/09
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