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Construction orders fall

NEWS

Construction orders fell by 11% for the three months to May compared with the previous three months, according to the Department of Trade & Industry.

The fall follows exceptionally high figures for the previous three months. Infrastructure orders were down 30% and public housing orders down 27%. Overall, orders were up 7% on the year to May 2001 compared with the previous year. A separate study by Construction Forecasting & Research predicts that the industry will grow faster than the UK economy over the next three years for the first time in a decade. Growth is expected to reach 4.1% by 2003, the highest rate since 1989.

Government public service and infrastructure spending is expected to underpin the growth.

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