No respite in sight for plummeting construction workloads

Construction workloads have hit their lowest in 10 years and there is no respite in sight, according to figures by the Federation of Master Builders (FMB).

Its state of trade survey for the third quarter of 2008 shows private housing figures have slumped to a low of -54, with 60% of those polled reporting lower workloads.

The picture is just as bad in public new build which, despite reporting some improvements, still reported a balance of -23.

The commercial sector fell five points to -24, employment dropped five points to -23 and industrial workloads plummeted 13 points to -45.

The FMB blamed the delays in the government’s Building Schools for the Future programme and instability in financial markets for the continued gloom.

It also said there will be no short-term respite, with almost 50% of respondents anticipating their workload will be even worse next quarter.

“The outlook remains bleak for both public and private residential work, with little or no respite even for publicly financed building work,” the report said.