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16/07/2003
NI construction confidence grows
Growing public sector activity has given rise to renewed optimism within Northern Ireland’s construction industry, a leading survey has revealed.
The Royal Institution of Chartered Surveyors (RICS) 'Construction Market Survey' (Second Quarter 2003), widely regarded to be a reliable early indicator of construction industry trends, points to a “bright spot” within the public sector, with activity rising in both housing and non-housing sectors and confidence in the general prospects for workloads improving.
Jim Sammon head of RICS Northern Ireland’s construction faculty, said that the encouraging activity within the public sector looks set to continue. He added: “The recently published RICS Construction Market Survey, for the second quarter of 2003, shows that although there has been a general decline in Chartered Surveyors’ workloads in Northern Ireland within the past three months, confidence in the outlook has improved.
"We are seeing more activity in the public sector as procurement procedures are being ironed out and as the construction industry comes to grips with them more and more."
Mr Sammon said Chartered Surveyors are amongst the first to detect new trends in construction because of their early involvement in projects - with construction growth an excellent economic indicator - as the sector is extremely susceptible to economic uncertainty.
"The RICS Construction Market Survey, which looks at the workload of Chartered Surveyors operating within the building industry, therefore gives some indication regarding prospects for the construction industry and for the economy in general," he concluded.
(MB)
The Royal Institution of Chartered Surveyors (RICS) 'Construction Market Survey' (Second Quarter 2003), widely regarded to be a reliable early indicator of construction industry trends, points to a “bright spot” within the public sector, with activity rising in both housing and non-housing sectors and confidence in the general prospects for workloads improving.
Jim Sammon head of RICS Northern Ireland’s construction faculty, said that the encouraging activity within the public sector looks set to continue. He added: “The recently published RICS Construction Market Survey, for the second quarter of 2003, shows that although there has been a general decline in Chartered Surveyors’ workloads in Northern Ireland within the past three months, confidence in the outlook has improved.
"We are seeing more activity in the public sector as procurement procedures are being ironed out and as the construction industry comes to grips with them more and more."
Mr Sammon said Chartered Surveyors are amongst the first to detect new trends in construction because of their early involvement in projects - with construction growth an excellent economic indicator - as the sector is extremely susceptible to economic uncertainty.
"The RICS Construction Market Survey, which looks at the workload of Chartered Surveyors operating within the building industry, therefore gives some indication regarding prospects for the construction industry and for the economy in general," he concluded.
(MB)
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