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ARTICLE · 06 DECEMBER 2011

Contractors – Tower Or Topple?

Deloitte
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Ongoing global economic uncertainty continues to present a testing environment for the construction sector.

United KingdomStrategy
Deloitte Real Estate Group
Deloitte Real Estate Group
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Market context

Latest outlook indicates further downside

Ongoing global economic uncertainty continues to present a testing environment for the construction sector.

Although the volatility and accuracy of construction data has been challenged in recent months, there is little doubting the overall downwards trend. The latest Office for National Statistics figures show construction output fell 0.2% between July and September 2011. The outlook going forward is weaker still, with the impact of the government spending cuts beginning to bite hard. The Construction Products Association recently forecast that 2012 will be the first full year to see the impact of the cuts, with output set to fall by 3.6% as the private sector struggles to fill the void in overall industry output. Growth in total construction output is now not expected until 2014.

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