Government spending 'boosting construction sector'
Construction
21st August 2009
The UK construction industry has received a boost as a result of government funding, new figures have suggested.
According to data from the Royal Institution of Chartered Surveyors (Rics), workloads in the non-housing public sector have witnessed the strongest results since late 2007.
Although workloads fell across all other markets, the organisation predicted that the stimulus provided by government spending could start to filter through to the housing sector.
In its UK Construction Market Survey for the second quarter of 2009, Rics revealed that 26 per cent more surveyors reported a fall in workloads, an increase from a net balance of -45 during the first three months of the year.
Rics chief economist Simon Rubinsohn remarked: "Activity is still declining across the construction sector but state spending is providing some much needed support."
A recent survey by the institution found that sustainability remains an important issue for construction firms despite the current economic downturn, something that may interest insurance for buildings customers.
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