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

 FirstGroup to launch budget London to Edinburgh rail service

FirstGroup to launch budget London to Edinburgh rail service

FirstGroup is to launch a budget direct London-Edinburgh rail service next month, which it hopes will lure air passengers to the train as a cheaper and greener alternative.   The new service, branded Lumo, will have just one single class of travel and the company hopes it will carry more than

Record infrastructure pipeline investment to support future workforce

Record infrastructure pipeline investment to support future workforce

This infrastructure pipeline includes the projected future workforce demand based on planned investment in projects and programmes. The Infrastructure and Projects Authority (IPA) estimates that in the four-year period up to 2024/25, over 425,000 individuals will be needed on an average

One year on: HS2 reaches 20,000 jobs landmark

One year on: HS2 reaches 20,000 jobs landmark

Companies right across the country are now forming part of HS2’s ever-growing supply chain. Contracts have already been awarded to over 2,200 businesses, 97% of which are UK-based.   HS2’s jobs boost is also benefitting those in need, with bespoke initiatives designed to

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.