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Construction industry depressed, says report

The government says the bleak outlook for the Island’s construction industry is graphically illustrated by quarry output.

 

In the Council of Ministers’ latest quarterly economic report, figures show quarry production is at its lowest point for 12 years – and is just over 40 per cent of what it was in 2001.

 

The report says the sector remains depressed, with only a small number of projects, falling tenders and rising materials prices, coupled with a lack of demand for new housing.

 

On top of that, the document says September’s unemployment figures show almost 15 per cent of those out of work on the Island are in construction.

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