Crunch time? Richard Saxon on the the CPA's changing industry outlook

摘要

The Construction Products Association has produced its annual forecast of demand in the industry, for the period 2008-2012, at a time when there is great uncertainty about the direction of the economy and its implications for construction. Recessions are rarely forecast but happen fairly predictably every eight years in construction. We had a terrible one in 1990-92, a small one in 2000 and now is the time for the next. With a severe credit crunch out there, affecting housing demand and development finance, surely the signs are clear?