Construction sector marks third quarter growth

12/11/2007

Despite recent uncertainty over the UK's economic prospects, the construction industry recorded a steady growth for the third quarter, according to a latest report.

The Trade Survey Report from the Construction Products Association and the Construction Confederation showed that 57 per cent of firms reported a rise in sales compared to the same period last year.

However, coinciding with the growth in construction output, 25 per cent of contractors claimed to see an increase in site labour recruitment problems.

Stephen Ratcliffe, chief executive of the Construction Confederation said: "Contractors remain positive about short-term and longer-term prospects although margins are being squeezed, due to both an increase in material prices and higher labour costs."

Public new housing, repair and maintenance activity are set to continue the construction growth, with most building firms expected to benefit from the extra work available.

Meanwhile, the 2007 National Engineering and Construction Recruitment Exhibition will run from November 23rd offering careers advice and vacancies for engineering and construction professionals.

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