Building industry has the blues
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.