Commercial – Construction Products Association forecast
- Published: 17 June 2008 09:24
- Author: Alasdair Reisner
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- Last Updated: 17 June 2008 10:01
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Despite anticipation of massive job losses in the City, the sun does not yet seem to have set on the commercial sector according to the Construction Products Association forecast.
The lag time between orders being received and work being carried out on site means that worked booked in during 2006 and 2007 should keep output on an upward trend this year.
But the association warns that nothing good lasts forever with both offices and retail expected to slow down in 2009 and 2010.
Office orders and uptake of space were both down in the early months of the year, while retail orders fell back two per cent in the first quarter compared with the same period in 2007.
The Construction Products Association includes Private Finance Initiative projects within the commercial sector and with booming workloads in healthcare and schools, PFI work looks set to continue to grow right across the association's forecast period to 2012.
