Home / News / Recession has cost construction 17billion so far

Recession has cost construction 17billion so far

The Office of National Statistics has revealed that construction orders have fallen by £17bn since the begining of the recession.

Recession has cost construction 17billion so far

Orders were £50.6bn in 2007 and fell to £ 33.6bn in 2009, with the largest drop coming from the commercial and private housing sectors. The value of orders in these sectors fell by 60%.

Private housing orders for the last three months of December rose by 24% to £1.5bn.

Total construction orders in the fourth quarter were £7.842bn, 4% up on 2008.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

Check Also

timco

TIMCO launches recruitment drive

TIMCO has launched a recruitment drive to encourage recruits to join its rapidly growing business …