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Tag: infrastructure orders

Worst orders figures on record suggest the worst on the ground is yet to come

Worst orders figures on record suggest the worst on the ground is yet to come

There are times when you hope you’re misreading data or that there may be an error. But it doesn’t look as though these crutches are available as I stare at the carnage implicit in the new orders data. The index, which represents a seasonally-adjusted price-adjusted measure of orders taken by contractors for new work has hit a record low. It stands at 57.5 for the second quarter of this year. Five years ago it stood at almost double that. (see…

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Contractors are bagging a third less new work than at peak

Contractors are bagging a third less new work than at peak

The latest new orders figures provide a sobering injection of reality after the barrage of “it’s okay the recession is over” talk that seems rife. Yes the rate of collapse has slowed. But it’s the level that really matters at the moment. Forgetting seasonal adjusted constant price measures, if we compare the amount of work contractors have bagged over the preceding 12 months in cash terms we see the amount still dwindling.