The construction industry is expecting public sector cutbacks and private sector weakness to severely impact on output, according to latest Construction Trade Survey published today.
The survey finds that:
CPA economics director Noble Francis said: “This survey highlights that construction improved during the first quarter of the year, contrasting sharply with the ONS’s construction output figures that indicated construction fell 4% over the same period.
“However, this improving situation is compared to the final quarter of last year, which was badly affected by poor weather in November and December. The industry’s near term future is likely to be extremely challenging with domestic demand remaining subdued, exacerbated by expectations of further rises in fuel, energy and materials costs.”