The UK construction industry is upbeat about its prospects in 2005, according to a new report.
The Construction Industry Trade Surveys found that 69% of building contractors and 81% of manufacturers interviewed expect to grow their output during the year.
About 78% of manufacturers are anticipating higher sales during the first quarter, while 41% of contractors believe they will increase output.
The report, published by the Construction Confederation and the Construction Products Association (CPA), also found that 19% of contractors increased output during the fourth quarter of 2004.
Growth predictions are clustered around higher government investment in schools and health facilities and improvements to social housing stock.
However, CPA chief executive Michael Ankers warned that higher raw material and energy costs are resulting in higher manufacturers’ selling prices.
