DoE new orders slump

Figures released from the DoE on Tuesday show a marked downturn in construction orders compared with the last quarter of 1993, though the underlying trends still appear to be upward. Orders received by contractors in the first quarter of this year were 5% lower than in the fourth quarter 1993 but 10% higher than in the first quarter a year ago.

Infrastructure orders fell by 24%, though these were still 1% higher than during the corresponding period last year. Commercial orders were also down - by 10% compared with the previous quarter but 16% higher than last year's figure.

Against the general trend, housing activity continued to climb. Orders were up 7% on the previous quarter.