News
Construction recession to last until 2011
29/01/2009
The Construction Skills Netwok has released a report suggesting the recession will last until 2011 in the construction sector.
The CSN said the short-term outlook for UK construction in the poor. Output was expected to have contracted by around 13% in 2009, and employment falling by 375,000.
The CSN said a further, marginal decline was projected for 2010, and that consistent recovery was not forecast until 2011.
It said this year would see the beginning of a slow return to growth, but added that even by 2014, output was still likely to be well below 2008’s level.
The CSN forecast also identified regional variations on construction output, with the north west down by 18%, north east down by 19% and west midlands down by 22%.
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