Building’s seven-strong Gloomwatch panel was formed to take the temperature of the ailing construction industry

We ask its members, each of whom represents a trade or profession, to rate their mood on a scale of 0-10, with 10 being the most unhappy. An average of all seven ratings is that month’s “Grimdex” forecast. The rating for April was 5.6.

This week we asked them for their snap reaction to the Budget. Despite the chancellor’s confidence, it seems the mood has darkened considerably due to the large debt forecasts.

Michael Ankers, chief executive of the Construction Products Association, rated his mood at 7. He said: “The Budget has cast a very grim outlook and has not done a lot to stimulate growth in the short term.”

Pascale Scheurer, director of Surface to Air Architects, rated her mood at 10. She said: “The bloodbath in our profession and the wider industry continues. The ‘extra money’ will mainly disappear in administrative costs. Very little of it will trickle down.”

The Grimdex rating of 7.5 is the worst yet...