The economy has stabilised and begun its long road to recovery following the sharpest recession on record with a fall of 5% in GDP in 2009 alone. However; the construction industry continues to endure a challenging environment. Following last year's 12% drop in output, the sharpest annual fall in 35 years, a further 3% fall in output is anticipated during 2010. By the end of 2010, the construction industry will have endured a recession two and half times worse than the overall economy. Recovery for the industry is anticipated only in 2011 with relatively slow growth of around 1% per year until 2014, when growth returns to long term trend levels.
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