Construction activity up in first quarter of 2015
Latest trade survey reports eighth straight quarter of growth, with further expansion expected
ACCORDING to the Construction Products Association’s latest Construction Trade Survey, firms across the construction industry reported an eighth consecutive quarter of growth in activity in the first quarter of 2015. Large contractors, SMEs, civil engineers and product manufacturers all enjoyed growth in output in the first three months, and further expansion is anticipated throughout 2015.
Commenting on the survey, Dr Noble Francis, economics director at the Construction Products Association, said: ‘Activity rose in the first quarter of 2015 compared with a year earlier, according to 50% of contractors, on balance. Furthermore, increases in orders and enquiries indicate that the construction industry’s longest expansionary streak in six years is set to continue over the next 12 months.
‘Increased activity was led by the private housing sector, in which 54% of firms, on balance, reported a rise in output. Increased output was also reported in private commercial, the largest construction sector, where 23% of firms, on balance, reported rising volumes of offices and retail work.’
Stephen Ratcliffe, Director UKCG, commented: ‘The continued growth in construction reported by the latest survey is encouraging, and hopefully the clear general election result will help minimize any impact on work pipelines.’
Rob Oliver, chief executive of the Construction Equipment Association, added: ‘I think the prospect of some continuity in government policies is generally welcome. The continuation and thorough execution of the existing strategies covering construction and manufacturing will be something we will press for. We will be particularly keen to see that the current construction pipeline remains intact and that longer-term infrastructure projects are not sidelined.
Dr Diana Montgomery, chief executive of the Construction Products Association, concluded: ‘Surveys by the Association, wider industry and independent sources indicate that the UK construction recovery appears set to continue through 2015. Despite rising costs and general election uncertainties, enquiries and orders are clearly translating into activity on the ground and contributing to steady and consistent growth.’
