Consultant engineer sees increased private sector activty but says fiscal measures have created uncertainty

Consultant engineer WSP said its market outlook remained “uncertain” because of the continuing global downturn and stringent UK budget in a trading update today.

The firm said it was “trading in line with the Board’s expectations in a market which continues to show ongoing uncertainty.”

It added there were early signs of increased private sector activity in the UK, and that its public sector business was steady. “However the significant fiscal tightening announced in the recent budget and the impact it will have means that the wider economic outlook remains unclear,” it said.

Conditions in Europe, Asia, Africa and the US were more healthy, but business in Australia was “weaker” and the middle east was “difficult.”

It said its bank debt had risen as expected and was within its £150m credit limit, but did not give a precise figure.