CONCERNS IN CONSTRUCTION.
THE latest survey by the Chartered Institute of Purchasing and Supply (CIPS) is the first indicator of the mood in the construction sector in the wake of the Emergency Budget.
According to the report, activity in the sector continued to grow in June at a similar pace to May.
Of more significance, however, was the forward looking expectations series which while remaining in positive territory suffered its biggest drop in the survey's history.
Although George Osborne made a strong case for infrastructure spending in the Emergency Budget and did not increase cuts in the capital expenditure budget beyond those already planned by the previous government, these are suf-f ficiently large to justify concerns in the industry.
Indeed, the latest RICS survey of the sector suggests construction workloads are unlikely to grow very much, if at all over the next year and more jobs are likely to be lost in the industry.