Industrial

摘要

The industrial sector benefited from consistent growth for four years from 2003, underpinned by logistics and warehousing related demand derived from buoyant consumer spending and stronger manufacturing activity.rnGrowth peaked in 2006 when all three of the components of the Industrial sector - factories, warehouses and the oil steel and coal sub-sectors - all enjoyed double-digit output growth. Last year output growth came to a halt driven largely by slower orders for warehousing.The sector is fully exposed to the current economic slowdown both on the consumer and business-to-business fronts.rnOutput is expected to contract over the next three years. In 2008 a reduction in output of around 20% is forecast with a further fall of 10% next year. A further reduction is envisaged for 2010 with a modest return to growth in 2011 sustained into 2012. The warehouses sector appears likely to take the brunt of the cuts by virtue of its more immediate exposure to consumer confidence and spending.