Construction industry forecast: although capital investment in construction work has dropped since early last year, the outlook gives cause for cautious optimism

Article Abstract:

Capital investment in construction work has fallen since early in 1994 although there is some hope of stabilisation of activity in 1995. There could be a return to discounting of material prices by merchants although there will still be pressure for further tender increases. The health construction sector has continued to grow with NHS hospitals planning to spend 1.2 billion pounds sterling on capital projects. Prive housing construction has remained unchanged.

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Cautious optimism tempered with pragmatic pessimism

Article Abstract:

The construction industry in the north of England should begin to recover during 1993. The industry has been in recession since the late 1980s but public investment policies and world economic trends indicate the tide is turning. Costs of imported materials are not expected to rise despite the devaluation of sterling. Transport, industrial and redevelopment projects are likely to be in the forefront of the change in the northern regions.

England

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Structural damage warning: continuing weak demand indicates structural rather than cyclical damage to the industry, according to our quarterly industry forecast

Article Abstract:

The demand for construction work continues to be weak indicating that the damage to the industry is structural rather than cyclical. There is a lack of investment and the rate of new orders for public sector work remains low. There have also been lower tender price increased in 1995 compared to 1994, although raw materials prices have risen significantly. There is a call for direct action by the government in the November Budget.

Surveys

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