Construction new orders remain depressed

This article was taken from Construction Enquirer, click the link to read it in full.

New work orders edged up in the third quarter but remain at historically low levels, according to the latest official figures.

The small 5% rise in new work orders was down to a recovery in infrastructure work but still remained the third lowest on record.

Worryingly, commercial work fell 8% on the previous quarter, and is now only 31% of the peak level recorded in 2007.

Simon Rawlinson, Head of Strategic Research at EC Harris: “The increase masks a deep malaise in the commercial sector.

“Total new orders in the third quarter returned to the ‘new normal’ levels that have been seen in the industry since the beginning of 2011.