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01Oct92 UK: CONSTRUCTION OUTPUT SET FOR FURTHER FALLS IN 1993.

Contractors can forget any hope of a quick upturn from the recession.The latest medium-term forecast from the National Economic Development Office says construction output will continue to fall through 1993 and the following upturn will be gentle.The forecast is for output to return to roughly 1987 levels by the end of 1996 - but this will still be 15 per cent down on the peak of the early months of 1990.Continuing high interest rates coupled with retrenchment by consumers leads the ...

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