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More gloom sweeps construction industry

Thursday, 3 July 2008 12:00 AM

The Office for National Statistics (ONS) has cast a further shadow over the construction industry, reporting a dramatic slump in building in May.

Total orders for the whole UK industry in the 12 months to May 2008 fell four per cent compared with the previous 12 months.

Furthermore, orders in the three months to May 2008 fell by 13 per cent compared with the same period a year earlier.

Once again it was private house which led the way downward.

Private housing orders in the year to May 2008 fell by 21 per cent compared with those in the previous 12 months.

Orders in the three months to May 2008 fell by 17 per cent compared with the previous three months, and fell by 36 per cent compared with the same period a year earlier.

The news follows a plethora of data released yesterday, which suggests the housing market is experiencing a dramatic downturn.

Data from the Royal Institution of Chartered Surveyors (Rics) finds overall construction levels fell for the first time since 2005 in the second quarter of 2008.

This was supported by research from the Chartered Institute of Purchasing and Supply (CIPS) and the Ernst & Young construction activity barometer, both of which find a sharp slowdown is taking place.

Public housing also saw levels drop on May, according to the ONS.

Research shows public housing and housing association orders fell by 17 per cent in the 12 months to May 2008 compared with the previous 12 months.

Furthermore, public housing and housing association orders in the three months to May 2008 fell by ten per cent compared with the previous period, and fell by 24 per cent compared with the same three months a year ago.

Chris O'Toole

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