Construction insolvencies 'up 19% due to cuts' - AAD Consumer Forum

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5corpio started a blog post Construction insolvencies 'up 19% due to cuts'
31 May 2011, 16:41

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Construction insolvencies 'up 19% due to cuts'

Construction insolvencies 'up 19% due to cuts'

Originally posted by 5corpio

Insolvencies in the construction sector have risen sharply due to public sector spending cuts, a report suggests.

The number of construction firms in the UK that became insolvent in the first quarter of the year rose by 19% from the previous quarter to almost 1,000, said accountancy firm Wilkins Kennedy.

The industry was now in a "double dip [recession]", it added.
Figures released earlier this month suggested the construction industry had slowed sharply in April.

The closely-watched Purchasing Managers' Index (PMI) for construction fell to 53.3 in April from 56.4 in March, due in part to a contraction in......Read more HERE
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