Wednesday, 2 September 2015

Construction Industry Continues to Grow Throughout 2015

Fugro Building
Construction in North Wales is currently on a high as results are shown in the latest Construction Trade Survey for 2015. The survey shows that construction firms reported an eighth consecutive quarter of growth in activity during the first quarter of 2015.

Large contractors, civil engineers and construction companies are all enjoying this successful growth, with further expansion anticipated throughout the rest of the year. Dr Noble Francis, the Economics Director at the Construction Products Association, provided his thoughts on the survey and said, “Activity rose in the first quarter of 2015 compared to 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.

“This momentum is set to continue, as it was in the private housing and commercial sectors that contractors registered growth in order books in Q1. Specialist contractors and SMEs also reported a noticeable upturn in new enquiries in the quarter.”

The survey provided some key results for the first quarter of 2015, in comparison to a year ago. These include:

-          50% of building contractors reported that construction output rose.
-          23% of building contractors reported that private commercial output rose.
-          9% of contractors reported a rise in orders for private housing.
-          25% of contractors state orders in the private commercial sector increased.
-          54% of building contractors report that the private housing output rose.

The Construction Trade Survey proves there has been great success for the beginning of 2015, but also continues to increase throughout the rest of year as we enter into the last quarter of 2015.