Building industry has the blues

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.