Construction product sales continue to strengthen
Latest survey indicates stronger sales during third quarter following recovery in second quarter
THE Construction Products Association’s latest State of Trade Survey indicates that sales of construction products continued to strengthen during the third quarter of 2013 following the recovery in the second quarter.
Private housing and infrastructure were still the key drivers behind the growth, but building product manufacturers clearly signalled that the rise in sales was more widespread than in the second quarter.
Construction Products Association economist Milja Keijonen said the third quarter of 2013 saw sales significantly rise across the board, with the heavy-side products commonly utilized early in construction projects recording widespread growth in sales both on an annual basis and quarter-on-quarter.
Overall, half of heavy side firms reported sales growth of more than 5% quarter-on-quarter and year-on-year, and expectations suggest that conditions are set to improve further over the next three months with 67% of heavy-side companies, on balance, expecting sales to rise in the fourth quarter.
‘Looking ahead, product manufacturers are increasingly optimistic about fourth-quarter sales growth and most are expecting higher sales over the next 12 months,’ said Ms Keijonen. ‘The wider economic outlook has steadily become more positive, which should support recovery in construction and demand for building products.’
