Construction growth forecast to continue

Construction growth forecast to continue

Industry analysts Glenigan confirm the strong turnaround in construction's fortunes with non residential construction showing a second consecutive quarter of growth for the first time since 2010.

 

Civil engineering showed a 41% rise in the number of projects started last year compared to 2012 and retail starts were double the level of a year previously during the final quarter of 2012.

 

Education was a sharply improving sector with a 35% rise in the number of projects started while retail starts doubled. The Glenigan Index for December was up 15% year on year as commercial construction activity accelerates.

 

The Glenigan survey shows strong growth in retail, office and industrial sectors. The value of non residential projects was up 21%, led by commercially funded and education projects. Office construction is 20% up on a year ago and industrial construction rose almost 15%.

 

Retail starts in the final quarter of 2013 were 35% ahead of a year previously. Civil engineering was one of the fastest growing sectors, with starts 41% higher due to growth in infrastructure and utilities projects. Glenigan expects civil engineering to remain buoyant during 2014 and further growth is expected particularly from renewable energy projects after December's announcement of renewable energy 'strike' prices.

 

In contrast, health and community and amenity spending fell due to a squeeze in government spending. Social housing was up 23% but private housing starts fell after a strong 2012.

 

Glenigan's Economics Director Allan Wilén said: "Our expectations for construction activity are positive, in line with the brightening economic outlook. However recent consumer data has underlined the importance of business investment to sustaining a recovery that has been based so far on consumer spending."

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

Construction industry will need ‘216,800 new workers by 2025’

Construction industry will need ‘216,800 new workers by 2025’

The CITB Construction Skills Network (CSN) 2021-25 report predicts a growing contribution to come from repair, maintenance and improvement work, as retrofitting existing buildings to meet net-zero emissions targets becomes more important. According to the CSN, most English

Ofwat - £2.8bn green recovery investment plans for water sector

Ofwat - £2.8bn green recovery investment plans for water sector

Ofwat, in collaboration with Defra, the Environment Agency, the Drinking Water Inspectorate, and CCW, wrote to water companies last year asking them to bring forward new proposals and accelerating existing ones to deliver an innovative and more resilient future for customers, society and the

NMCN’S AFFINITY WATER PARTNERSHIP EXTENDED WITH AMP7 AWARD

NMCN’S AFFINITY WATER PARTNERSHIP EXTENDED WITH AMP7 AWARD

nmcn is one of four companies awarded a framework agreement by Affinity Water worth circa £100 million in total. The four contracts make up a significant part of the multi-million AMP7 Capital Investment Programme and will cover all regions served by Affinity Water.Under this framework, which

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.