Rics predicts stabilisation of construction sector
Construction
10th July 2009
The end of 2009 could see the "collapse in output" in the UK construction sector stabilise, according to the Royal Institution of Chartered Surveyors (Rics).
Simon Rubinsohn, the organisation's chief economist, explained that data on orders for April and May showed that "they lift up slightly but it's still a very challenging picture".
He suggested that the worst of the slump has probably been experienced but added that recovery "is going to be a fairly long haul".
Mr Rubinsohn's comments come after the Glenigan Index for June this year indicated that the market would stabilise during the second half of this year, news that may interest business liability insurance customers.
Although figures for the month showed that the number of building projects had declined as a result of weak corporate investment, the data also revealed that government funding to public sector schemes is beginning to filter through, in particular to education, social housing and healthcare projects.
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