Construction slump - perfect storm
Statistics come out about the construction industry every week. And they always seem to be bad. But what do they really mean?
To try and answer this, and to get a bit of perspective, we've written a report that takes the long view.
How does the economic outlook today compare with the last ten years?
Here are a few of the headlines:
- Private sector construction collapsed after the credit crunch.
- But the public sector stepped in with a massive increase in spending, so overall the industry didn't fair too badly until the beginning of this year.
- Over the last 6-9 months however public sector funding has started to dry up.
- As a result, right now, total output is 9% lower than it was in 2002.
- If public sector cuts continue, the private sector will need to grow by more than a third of a billion pounds a quarter just to maintain current output.
- At the moment there are no signs that the private sector is growing.
Click on the link below to read the report:
Or download it as a PDF with bonus comments and possible solutions from David Trench:
See our suggestions for how to get construction back on track. Just click on the Discussion link at the top of this page.
Read an article in The Express about our report.
Featured articles and news
Erno Goldfinger's family home and modernist masterpiece - 2 Willow Road, Hampstead.
IHBC article asks - is the Bonfield Review blind to traditional buildings?
Do you know what an onigawara is? Find out here.
German Finance Minister Wolfgang Schäuble on how to achieve a better investment framework for Africa.
3 ways the world’s fastest growing economies can close the infrastructure gap.
The sooner early warning notices can be appreciated as of mutual benefit rather than one-sided advantage, the better.
BSRIA responds to government green storage announcement.
What is phenomenology and how does it relate to the built environment?
Read about Belgrade's Brutalist landmark - the Western City Gate.
Read about the measures that can be taken by individuals to protect and minimise exposure to outdoor sourced air pollution.
Have a look at some of the most impressive concert stage designs of all time, including Pink Floyd, U2, Rolling Stones, and more...