Contractors could look to close offices, sell assets and shrink their supply chains to mitigate the effects of worse-than-expected industry contraction. The warnings came after the Construction Products Association revised down its forecasts for the next two years. The CPA's Construction Industry Forecasts anticipate a contraction of l.l per cent (down from 0.5 per cent) in 2011, a 3.6 per cent fall next year (down from 2.8 per cent) and a flat 2013. The CPA predicted that the value of public sector construction, including PFI projects, is set to fall 24 per cent by 2014 to £30.2 billion, with falls of 41 per cent in education and 45 per cent in health over the period.
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