Home » Land & Developments » Construction products industry barometer falls to new low

Construction products industry barometer falls to new low

Commenting on the results, Michael Ankers, Chief Executive for the Construction Products Association said: “Heavy side manufacturers have been hardest hit by the recent fall in housing and the slowdown in the industrial and commercial sectors.

“The barometer for heavy side manufacturers in this quarter stands at only 3, meaning virtually all heavy side manufacturers are finding that sales have fallen over the last quarter; some have seen orders fall by 40% in less than a month. Light side manufacturers have so far not been as badly hit because they come later in the construction process but the expectation is that with little new work in the pipeline, they will begin to experience more dramatic falls.”

Ankers continued: “What is of particular concern is that the situation has deteriorated significantly in the last few weeks. However we are not an industry that is turning to Government for subsidies, but are looking for increased Government investment which will sustain employment and economic activity whilst delivering projects that will benefit the UK in the long term.

“Separately the Construction Products Association has written to Lord Mandelson among others, with a range of proposals for action that the Government should consider urgently. These include addressing the problems of liquidity and credit, reigniting the housing market, improving the energy efficiency of the existing housing stock and reducing the regulatory and fiscal burden on industry.”

When will the economy start moving again? Tell us what you think using the comment section below