Spend­ing cuts hit con­struc­tion sec­tor

Yorkshire Post - Property - - PROPERTY -

THE im­pact of govern­ment spend­ing cuts and con­cerns over ac­cess to fi­nance, saw sen­ti­ment in the con­struc­tion in­dus­try turn in­creas­ingly neg­a­tive dur­ing the third quar­ter of 2010, says the lat­est RICS Con­struc­tion Mar­ket sur­vey.

More than half of char­tered sur­vey­ors re­ported there had been no move­ment in con­struc­tion work­loads dur­ing Q3 2010. Of those who did see an ad­just­ment, it was down­wards. In­suf­fi­cient fund­ing for new de­vel­op­ments and con­tin­ued con­cerns over the econ­omy were among the fac­tors cited as af­fect­ing con­struc­tion projects.

RICS chief econ­o­mist Simon Ru­bin­sohn says the col­lapse in pub­lic fund­ing will have a ma­jor im­pact on the sec­tor.

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