Construction industry slow down

From increasing material prices, cost of fuel & energy rises to labour cost increases, the construction industry continues to see a slowdown in new buildings.

CPA (Construction Products Association) economics director Noble Francis explained: “During the next 12 months, the rapidly rising cost of living, slowdown in economic growth and falls in consumer confidence and spending will undoubtedly affect private construction investment. In addition, rising labour and materials prices are likely to mean that the industry sees the value of output previously expected, but not the volume.”