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.