Caution over construction hat trick
20 February 2014Construction activity was up again at the end of last year, the first time in more than five years that the industry has posted three consecutive quarters of growth, the Construction Products Association said.
Increases in the fourth quarter of 2013 was driven by the housing sector, though this was partially offset by a drop in repair and maintenance work.
"Building contractors, SMEs and civil engineers reported rises in output although Q4 levels were not as strong as Q3," said CPA economics director Dr Noble Francis.
He warned: "The rises in activity were slower than in previous quarters and orders for new work similarly decelerated, potentially highlighting uncertainty among constractors as to whether the recovery would be sustained."
Tender prices, which rose last quarter, were mitigated by growth in costs, especially labour, energy and transport.
