CIOB explores impacts of credit crunch on the industry in latest policy brief
Monday, January 26, 2009
As the UK officially enters recession, the Chartered Institute of Building (CIOB) looks at how the economic downturn will impact on different aspects of the construction industry:
The UK has officially entered recession after data from the Office of National Statistics confirmed the output of the economy fell by 1.5% in the last quarter of last year.
Construction output fell 1.1% during the same period of time.
Without doubt, these are serious times, but the industry needs to be prepared to contribute to the recovery by retraining workers, maintaining the highest of standards of quality and supporting innovation. Construction professionals must not lose sight of their commitment to issues of sustainability, health and safety, ethical business practices and improved building standards. These will future-proof the industry and allow it to grow after the economy recovers.
The CIOB has prepared a policy brief that explores the impact of the economic crisis on the construction industry. For more information please download the attached brief in the document box below:
