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Thursday31 July 2014

Construction orders up in third quarter

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But level of orders is third lowest on record

Construction orders in the third quarter of 2012 increased by 5.4% to £10.2 billion, according to official statistics published today.

However, the level of new orders is the third lowest on record and is 6.7% lower compared to the same period in 2011.

Infrastructure orders saw an increase of 31.4% while private commercial orders fell 6.7%.

Simon Rawlinson, head of strategic research, at EC Harris: “The 5% increase recorded in new orders in the third quarter masks a deep malaise in the commercial sector.

“Infrastructure and the private sector will be the drivers of recovery, and we know from the autumn statement that infrastructure remains a long term bet.  Whilst uncertainty holds back commercial investment, recovery in the construction market feels some way off.”

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