Construction up as private sales trump falling public demand
ACTIVITY in the construction sector edged upwards in the first quarter of 2012, surveyors reported today, indicating a rebound may be on the way following the strong fall in output seen in official data.
Twenty-three per cent of surveyors reported rising workloads, compared with 15 per cent who reported a decline, leaving a net balance of eight per cent – the first positive figure since mid-2011, according to the Royal Institution of Chartered Surveyors.
A net balance of 21 per cent expect further growth in the next 12 months and a balance of 16 per cent predict rising headcounts.
Private housing improved gradually, with a net balance of five per cent reporting growing workloads, as did the private industrial and commercial sectors, while public sector workloads fell.
However, Crossrail and Olympics work particularly boosted construction in the south east and London – a net balance of 19 per cent of surveyors in the region reported rising workloads.