UK manufacturers and suppliers of construction products, components and fittings have unanimously reported positive growth in sales in the second quarter of 2014.
The Construction Products Association’s latest State of Trade Survey, published on 11 July, found that:
- 100 per cent of construction product manufacturing firms reported a rise in sales in the second quarter compared with the previous year
- 83 per cent of product manufacturers anticipated sales rising over the coming year, with 65 per cent forecasting an increase of more than five per cent
- headcount increased on a year ago for 70 per cent of heavy side and 82 per cent of light side product manufacturers.
Kallum Pickering, senior economist at the Construction Products Association, said: “These results confirm that the construction products industry is firmly on the path of recovery.
“All firms reported that sales increased compared with the second quarter of last year and, looking forward, no firms expect sales to fall over the coming year. These findings fall in line with the recent broadening of growth across private construction.
“There are clear signals that firms are looking to capitalise on the positive growth outlook. Both heavy side and light side firms reported that capital investment increased across all areas of business and, investment intentions over the next 12 months were equally positive.”
As positive signs of recovery and growth in the construction sector continue to increase, businesses successful in securing new work are likely to benefit from expert legal advice from construction sector specialists.
At Palmers, we can provide comprehensive advice and guidance to construction companies on all aspects of construction law, including advising on and drafting contracts for new work. For more information, please contact Adam Davis.