Construction output falters on bad weather
Published: 21 December, 2010
LONDON: The bad weather will "significantly" affect the UK economy and damage a still fragile recovery, according to analysts at HSBC.
As much as £3bn could be lost in output with the construction sector particularly hard hit, said the report which based its forecast on the experience of previous bad weather episodes in recent decades,
Disruption in supply chains is expected to make the impact surprisingly severe for some companies, especially smaller ones even now being refused bridging finance by the banks. Many products are stuck at container ports and spare parts for vital machinery cannot be flown in, for example.