The Construction Products Association has once again downgraded its forecasts for construction output for 2020 and 2021.
And these forecasts are based on the assumption that new prime minister Boris Johnson will pull off a smooth Brexit.
What chance of that??
CPA economics director Noble Francis said:
Construction output in some key sectors has already been badly affected by Brexit uncertainty over the past 18 months and when you add in rising concern about government delivery of major infrastructure, it is a highly uncertain time for the construction industry.
Breedon – a competitor to Aggregate Industries, run by Pat Ward who was previously CEO of AI – has been finding the going tough:
Our performance in the second quarter was adversely impacted by lower volumes in Great Britain due to a flat construction market, ongoing project delays and competitive trading conditions.
And yesterday, LafargeHolcim – parent company of Aggregate Industries, holder of the purse strings for the Straitgate project – reported first-half results:
Britain, however, was a weak spot due to Brexit uncertainty.
Total #sales volumes in the first half of 2019 for #aggregates stood 1.9% lower compared to the same period in the previous year, 1.1% lower for asphalt and 0.3% lower for RMC #MPAEconomics pic.twitter.com/54VUenrsTT— MPA Mineral Products (@MineralProduct) August 1, 2019
