The ups and downs of new construction orders
Despite sudden and sharp falls in new construction orders in the private-commercial and private-industrial sectors for the 12 months to October 2006, these sectors still display strong long-term growth — according to figures from the Department of Trade & Industry. Private commercial orders in the 12 months to October 2006 were 36% higher than the previous 12 months. Despite a 20% fall in the previous three months, orders finished 27% higher than the same period a year earlier. Private industrial orders in the 12 months to October 2006 rose by 18% compared to the previous years. Orders for the three months to October 2006 fell by 20% compared with the previous three months, but rose by 27% compared to the same period a year earlier. Public-housing and hosing-association orders rose strongly, although the DTI warns that comparisons in this sector are affected by large variations due to its relatively small size. Orders for the 12 months to October were up by 45% compared with the previous 12 months. There was also 58% growth compared with the previous three months and 65% growth compared with the same three months a year earlier.