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The Federation of Master Builders State of Trade Survey for the last quarter of 1998 reveals a finely balanced economic situation in the FMB sector of the industry with no guarantee about which way it will go.
Derrick Ovington, FMB's National President, said:
"For sometime builders have been optimistic about future prospects but disappointingly our latest survey reveals an overall decline in workload coupled with enquiries falling. Hopefully, lower interest rates may improve confidence especially if further reductions occur. I am usually upbeat about our prospects and possibly we are only witnessing a minor setback as there are signs of modest recovery in manufacturing."
Ian Davis, FMB's Director General, added:
"The one good signal is that the private householder repair and maintenance market is holding up and perhaps prospects maybe better than currently apparent. However, the consistent thread running through members comments is that a VAT rate of 17½% badly hurts genuine firms. FMB is pushing hard for 5% rate on RMI work and if not achieved our members will continue to see their business bleed away."
First posted: 22 January 1999. Last modified: 29 march 1999.
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Mr Derrick Ovington
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