UK construction still subdued
Wednesday 27th May 2009, 12:03AM BST.
Workloads in the construction sector continued to suffer in the first quarter of 2009, new figures have shown.
According to the Royal Institution of Chartered Surveyors (Rics), 45 per cent more surveyors reported a fall rather than rise in overall workloads in the first three months of the year.
The balance is a slight improvement of the preceding quarter, where 47 per cent more surveyors said workloads were falling.
The statistics show that both public and private housing saw slight improvements, with the balance of surveyors reporting improved activity in the private sector rising 17 points to minus 49 per cent.
And in public housing, surveyors returned a balance of minus 13 per cent.
Simon Rubinsohn, Rics’ chief economist, commented: “This slight easing we are seeing in both public and private housing is broadly in line with the figures coming from the government on the number of housing starts, which saw a small rise in the first quarter of 2009, and could be aligned to recent signs of a gentle pick-up in activity in the housing market.”
As for the next three months, the outlook remains downbeat, although the mood is improving slightly.
Thirty-eight per cent more of surveyors expect the market worsen than improve, up seven points from the final quarter of last year.
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