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Construction spending fell 6.9% in 2013, says Ance

About 12,600 companies in sector bankrupt since crisis began

17 December, 13:23
Construction spending fell 6.9% in 2013, says Ance (ANSA) - Rome, December 17 - Construction spending fell by 6.9% in 2013 compared with the previous year, while the number of bankruptcies has increased, an industry group said Tuesday.

That is worse than the 5.6% drop previously forecast, said the Italian construction association Ance.

Since the global economic crisis began in 2008, jobs in construction have fallen by 10.4% with about 480,000 positions lost, according to Ance.

As well, about 12,600 companies - roughly one in four - have fallen into bankruptcy, the group said.

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