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Construction News
14/05/2015
Construction Industry Firms Report Growth In Activity
The latest Construction Trade Survey has stated firms across the industry reported a growth in activity for the first quarter of 2015.
According to the survey, industry growth activity has increased for the eighth straight quarter.
50% of building contractors on balance reported a rise in output for the first three months of 2015 compared to the same period last year.
54% of firms reported a rise in private housing output.
However, 45% said that public housing orders decreased.
63% of firms reported a rise in labour costs with 81% stating the cost of materials increased.
Dr Noble Francis, Economics Director at the Construction Products Association (CPA), 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 year is set to continue over the next 12 months.
"Increased activity over the last two years has widely translated into higher tender prices, but contractors, SMEs and civil engineers also reported elevated costs on the labour and materials side, which in turn are squeezing profit margins."
(LM)
According to the survey, industry growth activity has increased for the eighth straight quarter.
50% of building contractors on balance reported a rise in output for the first three months of 2015 compared to the same period last year.
54% of firms reported a rise in private housing output.
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However, 45% said that public housing orders decreased.
63% of firms reported a rise in labour costs with 81% stating the cost of materials increased.
Dr Noble Francis, Economics Director at the Construction Products Association (CPA), 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 year is set to continue over the next 12 months.
"Increased activity over the last two years has widely translated into higher tender prices, but contractors, SMEs and civil engineers also reported elevated costs on the labour and materials side, which in turn are squeezing profit margins."
(LM)
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