Glenigan Index confirms large drop in new construction jobs

Published:  12 December, 2008

The total value of new construction projects in the UK has fallen by 21% over the last year, according to the November edition of the Glenigan Index.

Residential projects starting on site saw a 31% drop.

Non-residential projects were down by 20% as a result of the sharp reduction in construction starts in the office and industrial sectors.

The value of public-sector construction starts, including education and health projects, has also weakened. Although this sector is thought likely to struggle in the near term, investor confidence is expected to stabilise during 2009, while new health and education projects in the pipeline should result in a modest improvement in the sector from the third quarter of 2009.

Allan Wilen, economics director with Glenigan, says, ĎConstruction in every pat of the UK has been affected by the fallout from the credit crisis. While the Bank of Englandís decision to slash the base rate may help rekindle confidence and money-market liquidity in due course, we anticipate a further weakening in new-project starts over the next nine months, which will continue to be a drag on industry output into 2010.í

The index is based on Gleniganís extensive database of construction projects and tracks the monthly flow of construction projects valued from £100 000 up to £100 million starting on site each month.



comments powered by Disqus

Search

Welcome

Welcome to Modern Building Services Online, the web edition of Modern Building Services (MBS) journal and the UK's most popular Building Services engineering site. Modern Building Services covers the entire Building Services Engineering industry. This site contains archived content from the journal, plus web-specific content.

When you go to our digital edition, you can also access the archive of digital editions.
February 2018: DIGITAL EDITION

ARCHIVE OF DIGITAL EDITIONS

Modern Building services has a group
on Linkedin - join us!

Jobs

  • Intermediate / Senior Mechanical Engineer

    The Mechanical team undertake the design and specification of a range of Mechanical building services in a lead or supporting role, depending on project complexity and scale. You should demonstrate a flexible approach to design and team working and wil......

  • Senior Urban Designer

     Applicants will be Master’s Degree qualified Architects / Urban Designers, with a strong portfolio of work highlighting a variety of projects at a range of scales and types, with strong focus on regeneration, infrastructure-led projects and major develo......

  • Principal Structural Engineer

    We are currently recruiting on behalf of a global client, with a diverse range of award winning projects to their name. Their experience spans a host of market sectors, including transport, infrastructure, defence, scientific, education, high-tech and ......

more jobs »

Poll

"Is the Building Services industry lagging behind in the implementation of BIM?"