Posts Tagged 'double dip recession'

Double Dip Time?

Here we go then….the Construction Products Association is saying we are in for a rough ride again this year and next year too. They predict that this year output will fall by 0.8% and next year by 2%. This will make it the most miserable time for many of us if that’s true.

‘The Mail’ on line even predicts the same (but don’t they always) stating that construction output in the three months to end of February fell a massive 18.3%, fuelling fears that things are about to get even tougher as this is all before the government’s austerity measures kick in.

The IMF has also downgraded it’s 2011 growth forecast for the UK to 1.75% (it’s third downgrade this year)

Yet here is some contradictory evidence.

Take a look at this from the Train4TradeSkills News section. They quote from the Markit/CIPS UK Construction PMI Index ‘UK construction companies reported a strong end to the first quarter, with activity rising at a similar pace to the eight month high recorded in February’.

So what’s going on?

What do you think?

Is it all doom and gloom out there or are there chinks of light for you and your business?

I’d be really interested to hear your views on this. 

I know for us it’s one hell of a rollercoaster ride, one moment you are really busy and the next you are in the doldrums, but then that’s the joys of being in this game isn’t it?

And on a lighter note perhaps we should all go to Brazil and build Lego towers instead…

Double Dip Recession

All this talk of double dip recession does annoy me! I agree with a recent tweet by Dominic Farrell about this.

If you believe the construction figures for the last quarter, we saw a record rise in growth of 6.6%, so how can that be?! I know there’s talk of this being revised downwards, but not enough to send us into a recession again, surely?!

For our part, business at GFP has seen its ups and downs and, I have to say, recently it’s still much the same. The more people I talk to, the more say they are taking work now while they can, as they’re not sure what’s round the corner for the industry. That explains a lot why we’re so busy producing bills of quantities for tenders at the moment.

But anyway here’s a little sample of the style of work coming through our office since June this year; a live example to reinforce my view that it’s still active out there.

So we either have been, or are involved in the following projects:

  • 10 social housing projects
  • 6 disputed final accounts for sub-contractors
  • 5 schools
  • 2 disputed final accounts for main contractors
  • 2 domestic properties
  • 1 utilities project
  • 1 listed building project
  • 1 sports facility
  • 1 film studio
  • 1 community centre
  • 1 dance studio
  • 1 distribution facility
  • 1 leisure & retail park
  • 1 LUL project
  • 1 university
  • 1 academy
  • 1 college

…Phew! When it’s listed out like that we’ve been quite active!

I’m sure that a lot of these will come to fruition and be real live projects soon too.

Anyway that’s enough nuggets of inspiration for now, but what about this for some chicken nugget rage? It could only happen in America…

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About Me

I’m now the Managing Director of Mynott Associates Limited my own specialist measurement business. I’ve been in the industry all of my life since I left school. My first job was with Bovis Construction as a management trainee where I trained to become a quantity surveyor. I’ve worked for contractors all through my career, I am FRICS, FCIOB and MCIHT qualified and act as an RICS assessor. I’m also a keen Arsenal supporter having followed them from a young boy

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