Construction orders up in third quarter
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.”