Gloomy future for construction

The construction industry in the UK is set for a significant downturn according to industry surveys released yesterday. The building industry is “heading towards a nose dive”, the Federation of Master Builders (FMB) said, claiming the workloads have fallen for 15 consecutive quarters. Nearly half (44 per cent) of FMB members have reported falling levels of enquiries, it said. The Construction Products Association added that rising costs have “badly affected” the industry, while economic concerns have combined with slower government spending to hit construction in the third quarter.