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Construction Sector Woes Hit A Wider Market

The fall in activity in the construction sector has been more marked over the last few weeks with more and more firms hitting serious cash flow problems and being pushed into administration and receivership. While you might expect these problems to stay within the construction sector there are signs that they are spreading to other areas of the economy.

The construction - house construction in the main - sector has been one of the hot spots of the UK over the last decade, benefitting from a growing wealth in the UK and growing demand. However, once the credit crunch took hold this literally stopped overnight and the troubles began. As more and more constructions business go out of business we are seeing local retail suffer, investors shying away and more and more of the population watching what they spend.

We are also seeing a great number of smaller companies going under, companies which had for many years depended upon house building and construction in general for business. This is affecting the income of many professional service companies such as accountants, hitting the building supplies market and pushing more and more people into serious financial difficulties. The construction sector pushed the UK economy to highs not seen for many years and is set to take us to the depths of despair.

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