The dramatic drop-off in opportunities is driving the substantial tender price reduction described in January’s Market Forecast. Overall orders for new work have fallen by 33% year-on-year up to February 2009, with the private sector being exposed to the greatest rate of decline. However, the public sector, which had a very strong year in 2008, is now showing signs of a slowdown as well, with the volume of orders falling by 14% in the year to February 2009.