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The Federation of Master Builders (FMB) Fourth Quarter of 1997 State of Trade Survey reveals a levelling off in the recovery signalled in the Third Quarter of 1997 State of Trade Survey. While overall growth still shows a mildly positive trend (even in the repair and maintenance market), optimism for the early part of 1998 is less buoyant.
Brian Tierney, FMB's National President, said:
"After a nice fillip following the previous survey of 1997, the industry's fortunes seem to have taken a slight dip. There has been a drop in enquiries and this will result in less workload in the next quarter. The industry has lived with poor economic conditions for nearly a decade and it is unsettling to see another potential slow down."
Ian Davis, FMB's Director General, added:
"Despite the disappointing news the nucleus of recovery is still there and hopefully more PFI projects and the release of Capital Receipts for housing will bring additional work on stream. On the other hand, the rise in interest rates and the expectation of further adjustments are having a dampening effect.
"On a brighter note, the European Council of Ministers are soon to consider an EU Commission proposal to reduce VAT to 5% for renovation and repair of housing. Many in the industry are urging the Government to adopt this proposal which would undoubtedly improve work opportunities."
Further Information
For further information on the subject of this article, please see the report in full here at FMB On-line or contact:
Last modified: 04 February 1999.
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