We are in for more than a decade of sluggish growth before the workload slump is restored to 2007 levels. That is the sobering prediction from forecasters sitting on the industry's most influential economic panel.
Contractors already struggling with work falling off a cliff-edge will also be dismayed to hear that output will fall by a record 15% this year, followed by a further slide in 2010.
Rather than loose faith, now is the time to focus on the fact that this is not the first time construction has faced a long haul out of the mire - remember the early nineties.
The last 12 months have eroded much of what Latham and Egan championed, eaten away by the cut-throat bidding epidemic presently gripping the UK construction industry.
The full extent of the damage will not be known until next week when Constructing Excellence evaluates where we stand today on the process of industry reform.
It is tempting to tell it how it is and claim all is lost: best practice procurement shaken to its foundations, skills gone for good and the respect for people initiative just a distinct memory.
This is too defeatist.
This time round it is even more important for the industry to face up to the unpleasant truth of stagnant growth and use it as an opportunity to place construction on a firmer footing.
The contracting industry will emerge from this stronger, if somewhat smaller. And those fit enough to survive the monumental slide must take a deep breath and start talking about how to create a more resilient industry for the future.
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