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New project starts, slump by 35 per cent

By: Language: English Series: The Glenigan Index ; April 2009Publication details: 2009Subject(s): Online resources:
Partial contents:
The Glenigan Index for March recorded a 35% fall in new project starts, due to a continued drop in housing and non-residential building. In contrast civil engineering project starts have strengthened sharply since the start of the year. Conditions remain especially difficult in the housing sectors with the Residential Index for March recording starts at less than half the level of a year ago. Whilst the decline has been primarily driven by a sharp fall in private housing project starts, the flow of new social housing schemes is also down on a year ago.

The Glenigan Index for March recorded a 35% fall in new project starts, due to a continued drop in housing and non-residential building. In contrast civil engineering project starts have strengthened sharply since the start of the year. Conditions remain especially difficult in the housing sectors with the Residential Index for March recording starts at less than half the level of a year ago. Whilst the decline has been primarily driven by a sharp fall in private housing project starts, the flow of new social housing schemes is also down on a year ago.