THE CONSTRUCTION sector declined sharply in the run up to the General Election, according to figures published today by industry analysts Glenigan, but a quick rebound is expected.
The Glenigan index for June, which covers the value of projects starting on site during the previous three months, has fallen 10 per cent compared with the same time last year.
“Despite the recent slowdown in project starts, our data indicates that activity will bounce back quickly over the next couple of months,” said economist Allan Wilen from Glenigan.
“The value of contracts awarded has continued to grow during 2015, and developers will now be mobilising their project teams.”
“We expect this to come to fruition with a surge in starts during the second half of the year.”
Large drops in activity were seen for civil engineering projects and non-residential projects such as office buildings, while housebuilding increased.