Brickonomics

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• Optimism alive and kicking in construction

  The RICS construction survey for the third quarter of 2009 found confidence over increased workloads returning to the industry for the first time since 2008 Q1. This was despite an overall fall in workload across the industry as a whole and the fact that... Posted Nov 06 2009, 12:04 PM by Brickonomics Filed under: RICS, construction output, optimism, pessimism, Baron Sugar

• Growing evidence of double dip collapse for construction

  The latest round of trade survey data points to an ugly acceleration in the rate of collapse of workloads. Persistent sightings of green shoots over the late spring and summer now look to have been little more than a mirage. Read More... Posted Nov 03 2009, 11:21 AM by Brickonomics Filed under: Construction Products Association, construction output, CIPS, construction orders, Experian, NSCC, inquiries, BCIS, tender prices, double dip

• Falling construction helps hold UK in recession

  An estimated fall of 1.1% in construction output in the third quarter of this year has helped to hold the UK economic growth in recessionary territory. Much to the surprise of many analysts the UK economy appears to have remained in recession, with GDP... Posted Oct 23 2009, 10:40 AM by Brickonomics Filed under: construction output, recession, GDP

• Contractors are bagging a third less new work than at peak

  The latest new orders figures provide a sobering injection of reality after the barrage of "it's okay the recession is over" talk that seems rife. Yes the rate of collapse has slowed. But it's the level that really matters at the moment... Posted Oct 01 2009, 11:47 AM by Brickonomics Filed under: construction firms, construction output, construction orders

• Economy not as bad as we thought thanks to construction

  The fall in GDP wasn't as big as we thought thanks to stronger than estimated construction activity. That is the assessment of the statisticians who put together the national accounts . But is this good news or bad news for construction? Read More... Posted Sep 29 2009, 11:51 AM by Brickonomics Filed under: construction output, statisticians, green shoots, GDP

• 111,000 jobs lost to construction... and that is just the start

  The latest employment figures make grim reading for the construction industry with the number of workforce jobs plunging by 61,000 in the second quarter of this year. This means that 111,000 jobs have been lost to the industry since they peaked in the... Posted Sep 16 2009, 11:07 AM by Brickonomics Filed under: construction output, unemployment, redundancies, RMI sector, workforce jobs, public spending, vacancies

• Output figures show continued fall in cash flowing into construction

  At first sight the latest construction output figures provide some relief. The fall in output in the second quarter of the year estimated to be just 0.5% and there was a slight rise in the output of new work measured in constant prices. But then it is... Posted Sep 04 2009, 05:33 PM by Brickonomics Filed under: RICS, Construction Products Association, construction industry, construction output, public spending

• CIPS: construction still the sick man of the UK economy

  There is nothing remarkable about the latest CIPS construction survey other than the comments, which are somewhat more guarded than those that accompanied last month's data. It found workload in the industry still falling on its measure which registered... Posted Sep 02 2009, 11:18 AM by Brickonomics Filed under: construction output, commercial sector, house building, CIPS, civils

• GDP figures stick with estimate of 2.2% fall in Q2 construction output

  No surprises in the GDP figures out today, after the savage revisions made to the previous quarter. Things aren't quite as bad as first thought. GDP was revised up gently from a drop of 0.8% in the second quarter to a drop of 0.7%. This was down to... Posted Aug 28 2009, 11:06 AM by Brickonomics Filed under: construction output, GDP

• RICS survey finds some breathing space before the real storm hits

  The surveyors' body RICS found that public sector funding was providing some much needed relief for the construction sector. The shift in the numbers in its construction market survey was quite marked. The balance of firms seeing a decline in workload... Posted Aug 14 2009, 11:16 AM by Brickonomics Filed under: RICS, construction industry, construction output, recession, public spending

• Redundancies in construction jump to 170,000 over 12 months

  The latest employment figures show a continued shocking rate of redundacies in construction with another 42,000 jobs shed from the industry in the second quarter of this year. That makes a total of 170,000 recorded job losses over the past 12 months.... Posted Aug 12 2009, 11:05 AM by Brickonomics Filed under: construction industry, construction output, redundancies, construction workforce, workforce jobs, Labour Force Survey, vacancies, claimant count

• CIPS talk of optimism is baffling

  The CIPS appeared to be putting a rather positive spin on its July figures for construction activity on the back of a slowdown in the pace of decline and swelling optimism among its respondents. The press release reads: "Optimism about future activity... Posted Aug 04 2009, 11:43 AM by Brickonomics Filed under: construction output, house building, CIPS, construction orders, economy, optimism, pessimism

• Why contractors can't help suicidal bidding when the workload turns down

  The most concerning issue now facing construction as it dives deeper into recession is that of firms taking on work at less than cost. This is not sustainable business behaviour. More than falling workloads, falling prices defined the chaos that ravaged... Posted Aug 02 2009, 02:38 PM by Brickonomics Filed under: construction industry, construction output, main contractors, suicidal bidding, prisoner's dilemma, marginal pricing, supply chain, moral hazard, subbie bashing, suppliers, subcontractors

• Contractors face a £24 billion drop in new work

  UK contractors should prepare themselves for a £24 billion drop in the annual cash value of new work coming through as the recession reaches its expected bottom in 2011. Shrinking volumes and plunging prices threaten to drag the cash spent on buying new... Posted Jul 30 2009, 11:33 PM by Brickonomics Filed under: Construction Products Association, construction industry, construction output, recession, Dutch auctions, BCIS, suicidal bidding

• Seven years of construction growth wiped out say GDP figures

  The latest GDP figures showed a marked slowdown in the rate of collapse of the economy. But the drop of 0.8% was significantly more than economists were expecting, if the mood judged by Reuters gives a fair assessment. The median of its poll of economist... Posted Jul 24 2009, 11:22 AM by Brickonomics Filed under: construction industry, construction output, economy, GDP, construction