In news that may interest concrete tool users, a report has shown that private sector confidence improved in May, seeing a pick-up in private housing.
The Glenigan Index for the construction sector is 9.6 per cent up on a year ago, indicating a recovery in the industry.
Although public sector business has fallen since the general election, the report stated, private housing schemes have become more active while other commercial development such as retail and hotel and leisure projects have also seen rises.
Civil engineering projects also saw a recovery during the month, rising from a sluggish start to the year.
Glenigan has forecast that public sector starts will remain slow while the government makes cutbacks in spending in an effort to reduce the nation's fiscal deficit.
However, the firm predicted that the construction industry could expect further strengthening in the private sector, while the financial health of the country improves.
This economic growth has also been forecast by the Office for Budget Responsibility, which expects business investment to recover, rising at an eight to eleven per cent rate from 2011 onwards.
Written by Jude Whitehouse
The Glenigan Index for the construction sector is 9.6 per cent up on a year ago, indicating a recovery in the industry.
Although public sector business has fallen since the general election, the report stated, private housing schemes have become more active while other commercial development such as retail and hotel and leisure projects have also seen rises.
Civil engineering projects also saw a recovery during the month, rising from a sluggish start to the year.
Glenigan has forecast that public sector starts will remain slow while the government makes cutbacks in spending in an effort to reduce the nation's fiscal deficit.
However, the firm predicted that the construction industry could expect further strengthening in the private sector, while the financial health of the country improves.
This economic growth has also been forecast by the Office for Budget Responsibility, which expects business investment to recover, rising at an eight to eleven per cent rate from 2011 onwards.
Written by Jude Whitehouse