Wednesday, Sep 02, 2009
Construction still shrinking
Times Online: UK construction shrinks for 18th month in a row
Britain's construction industry contracted for the eighteenth month in a row during in August and is now being hit by a dearth of civil engineering orders.
The monthly survey by the Chartered Institute of Purchasing & Supply (CIPS), which measures activity in the construction sector, showed a level of 47.7 in August, indicating that the sector had shrunk again, although it fell at the slowest pace for 18 months. The index has risen from 47 in July.
Posted by dohousescrashinthewoods @ 11:06 AM (542 views) Add Comment
6 Comments
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1. happy mondays said...
I have a few friends who work in construction in the south east, who have already taken pay cuts & cannot see much work ahead, with the winter around the corner, i can only see this getting worse at least until spring, which by then we shall possibly know what house prices are doing, either a real recovery in construction / manufacturing etc or this is just a Muppet's rally..
2. will said...
No data has been produced to show that we are out of this recession, only Government spin. The sheeple wan't to believe it beacuse they fear losing their jobs and homes.
3. paul said...
Construction has definitely been shrinking - look at the size of the rabbit hutch starter flats on offer at penthouse suite prices!
4. happy mondays said...
Yes paul, cat & swing come to thought..
5. Philip9134 said...
I was a carpenter and I can tell you that with the introduction of the poles many trades people moved, ether to Australia, Canada or stoped working in the industry. Due to the down turn many more of us no longer work in the industry, I have no doubt that in a few years time we simpally will not have the skills to compleate high or low quality buildings. At that time we will be dependant on importing most of our doors, windows and staircases, all this to save a few banks.
6. Bawlee said...
House prices have stopped falling due to a lack of supply, according to many experts. So why aren't construction companies taking advantage of this? They should be ramping up housing projects to fulfil this demand shouldn't they?