While overall construction workloads were lower, with a net balance of -27% recorded, this was an improvement from -60% in the previous quarter’s survey.
Looking ahead, respondents on balance expect construction workloads to be lower in a year’s time than they are currently. But they are less pessimistic than they were three months ago, with the 12-month workload expectation balance having improved from -41% in Q2 to -10% in Q3. And while surveyors expect profit margins to be squeezed in the next 12 months, they now expect employment levels to be flat.
Jim Sammon, RICS Northern Ireland Construction Spokesman, comments, “it is clear that the role of government is more important than ever, in relation to capital spending, infrastructure and ensuring effective and efficient government and decision making that supports the private sector and the recovery.”