• The Construction Products Association downgraded its growth forecasts made last summer, from 1.8% to 1.1%, warning that the slowdown in the housing sector, combined with slow government investment, could lead to recession in the industry.

• The Federation of Master Builders reported that client enquiries for all types of work had fallen to its lowest level since 2005. Its survey for the last quarter of 2007 showed 40% of builders had seen a drop in enquiries in housing and commercial in the private and public sectors.

• Credit insurer Euler Hermes warned that construction would be one of the sectors worse hit by insolvencies in 2008. Insolvencies in construction were up 9.6% in the last quarter of 2007, compared to the same period in 2006.

Source

Construction Manager