Construction Industry Slow to Recover
According to a recent report conduced by the Construction Products Association, construction output will fall 15% this year and continue on to descend until 2010.
While results of the last quarter suggested that the UK’s property market is on the road to recovery, the latest figures reported by the Construction Products Association suggest that it may be some time before the construction industry fully recovers.
Commenting on the report, chief executive of the Construction Products Association Mike Ankers states; “News of an uplift in the property market encouraged many to predict the end of the recession. However, our latest forecast reveals that, while the future does look positive for the construction industry, the pace of recovery will be slower than initially anticipated.”
Mr. Ankers added: “One of the main objectives of the CPA is to ensure that the government is aware that the recovery of the construction industry, is key to the broader economic recovery of the UK.”