Article Abstract:
Gallup questioned 80 UK construction firms on forecasts for 1993. Over 50% believe that the construction market will improve. Seventy-seven per cent intend to increase business in social housing, 42% in industrial building and 38% in retail construction. The West Midlands is favoured by 41% as the best regional market, the South East by 40% and the East Midlands by 39%. Insolvencies are expected to remain at 89% and 39% will make further job cuts. Salaries will remain static for 59%. Seventy-two per cent believe that interest rates should fall by another 2%.
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Article Abstract:
Barclays Bank details a 2-year economic forecast for the UK construction industry. Construction is expected to decrease during 1993 by 2.3% and increase by 1994 due to a housing sector recovery. Commercial and industrial sector output decreased by 11% and private repair, maintenance and improvement by 10% during 1992. Public sector work output decreased by 3% in the first Qtr of 1993 because of the decline in repair, maintenance and improvement work.
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Article Abstract:
Michael Latham believes that a trend for partnerships during the design and construction process will develop. Standards will rise as latent defect insurance becomes more common, and insurance companies become involved in site inspections.
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