The gloomy prediction is contained in the latest forecasts from economic experts at Hewes & Associates who have been crunching the numbers in the wake of the Comprehensive Spending Review.
The firm’s figures suggest that following a 5.6% rise in construction this year, workloads will fall by 5.8% next year and 4.8% in 2012.
Hewes fear the private sector will struggle to fill the void left by the withdrawal of public spending across most sectors with only the private housing market showing any growth in 2012 as all other areas decline.