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Weaker housing market hits construction products sales

A slowdown in new house construction and improvement work on top of a lack of road and rail investment hit activity over the last three months, new figures published today by the Construction Products Association revealed.
Sales at manufacturers were down in the third quarter of 2005 compared with the same period last year, a survey of members showed.

The association's economics director Allan Wilén said 'Manufacturers report a weakening in sales volumes as the slowdown in house sales and house price inflation over the last 12 months, coupled with greater consumer caution, has curbed households' appetite for home improvement works and restricted the flow of new housing projects.'

'The construction products industry remains cautious about the final three months of 2005. An index reading for all manufacturers of 44 indicates that firms continue to expect sales volumes during the fourth quarter to remain down on a year ago, with heavyside manufacturers especially cautious.'

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