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Downturn in fit out sector set to continue

01 July 2010

The latest AMA report into the UK Commercial Interior and Fit-Out Market reveals that the decline in its private sector work will be followed by a similar fall in its public sector business

The interior fit-out and refurbishment market estimated to be worth £7 billion in 2009, has experienced significant decline in the last two years, the report concludes following a period of growth up to 2008 in the offices, retail, leisure and the public sectors.
The report states: “Performance has been very difficult in most end use sectors in 2008-09, reflecting the general decline in construction output and RMI. Decline has been strongest in the private sector, with offices and retail both experiencing major downturns in new build which inevitably feeds into major fit-out and refurbishment projects. Offices and retail have traditionally accounted for more than 50 percent of the fit-out an d refurbishment market, but this share has fallen over 2008-09.”
It continues: “Taking a wider perspective over the 2008-2012 period, the market will have experienced extremely volatile conditions with significant variations at sector level. Initially, the decline in 2008/09 was primarily driven by the downturn in the private sector, with the public sector remaining buoyant. However, performance in 2010 – and progressively into 2011/2012 – will see a reversal of this trend as the public sector experiences cutbacks with prospects in the fit-out market increasingly dependent on a recovery in the private sector. As a result, overall forecasts for 2010-12 are difficult to make at this stage, but short term prospects will remain difficult. There have been some tentative signs of optimism in the private sector, but spending plans for the public sector will emerge slowly with the Emergency Budget in June to be followed by the Autumn Spending Review when more detailed departmental budgets are developed. Individual company performances have already been very variable and will continue to do so over the next 3-4 years, reflecting specific areas/sectors of expertise.
AMA Research’s report Commercial Interior Refurbishment and Fit-Out Market – UK 2010-2014 is available in hard copy or electronic format for £650 and can be ordered online at www.amaresearch.co.uk or call 01242 235724.


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