In its fourth quarter construction activity barometer, the CPA said manufacturers were experiencing the “worst conditions” since its survey began four years ago.
The barometer, an index that ranks manufacturers prospects, stood at 13 – a figure of 50 represents no change.
This represents a sharp contrast to the 2007 index when a figure of 80 was recorded.
Meanwhile, manufacturers are even more pessimistic about their future prospects, with a figure of 7 representing expected sales in the next quarter.
Heavy side manufacturers have been hardest hit by the recent decline in housing starts and the slowdown in the commercial sector. The barometer for heavy side manufacturers in this quarter stands at just 3, with virtually all such manufacturers reporting that sales have fallen over the last quarter.
Light side manufacturers have also endured falls in sales – though not to the same extent as heavy side manufacturers – with the barometer showing a figure of 24.