Slowdown continues for builders

THE construction industry has experienced further decline across all sectors during the second quarter of 2009, according to the yesterday&rsquo;s Construction Trade Survey.<br /><br />Sixty-six building contractors reported that output in the commercial sector fell in the second quarter of 2009 while 55 per cent reported output fell in the private new housing and industrial sectors. Subdued economic activity and tight credit conditions has delayed a number of development projects, hitting the sector.<br /><br />Construction Products Association economics director Noble Francis said: &ldquo;The sharp fall in output within private sector construction has been exacerbated by falls in output from the public sector. This is extremely worrying given the large number of government announcements and fiscal stimuli, there has been recently.&rdquo;