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Building industry has the blues

By unknown | Dec 04, 2008 | COMMENTS [ 0 ]

Zweli Mokgata

Zweli Mokgata

It has taken just a year to reverse optimism in the construction industry that had taken more than five years to build.

The FNB Building Confidence Index made a rapid decline to 40 points (out of 100) in the fourth quarter of this year, a 12-point drop from the previous quarter.

This showed a sharp decline from its 2007 fourth quarter levels when the industry insiders were so optimistic about trading conditions that they delivered a score of 86.

Architects, quantity surveyors, contractors, sub-contractors, wholesale and retail merchants, manufacturers of building material and other related operators feel their businesses are under extreme pressure.


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