Confidence in the building industry dropped further in the first quarter of this year, FNB said yesterday in its quarterly Building Confidence Index. The index dropped from 40 in the fourth quarter of 2008 to 28.
The index measures the business confidence of all major role players, such as architects, quantity surveyors, contractors, wholesale and retail merchants and manufacturers of building materials.
FNB Property Strategist John Loos said no major further deterioration was expected for the second quarter of this year.
Mail & Guardian (S Africa)