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Industry construction growth continues

Posted by Marianne
June 4, 2014 in News

Recent data has shown that growth in the UK’s building sector has once again surged upward.

With project values on the up from this time last year as well, industrial projects are said to be largely responsible for the boost.

The analysis firm Glenigan has highlighted improvements in the non-residential index of 24%, when compared to the same time in 2013.

This supports the growing demand for  office fit out  office fit out projects, warehouse building and refurbishments, which are being seen in many parts of the country at the moment.

The figures also show a 20% uplift in the value of those projects over the same time frame, which supports a recent report from the Confederation of British Industry. That paper pointed to an economic recovery that is at its fastest pace for more than a decade.

The economics director for Glenigan, Allan Wilén, said:

“The latest figures show a renewed expansion in the underlying value of starts. A renewed strengthening of non-residential work is the most significant driver of the high 20% increase recorded in our latest Index, though the underlying value of project starts also increased across the housing and infrastructure sectors.”

There were increases witnessed throughout the country, except for the Yorkshire and Humber region, which remained flat throughout the covered timeframe.

Significant increases were seen in northern England and Scotland as well. Meanwhile, the commencement of underlying civil engineering projects, a rise of 38% in the period, has contributed to growth in eastern England in particular.

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