SCOTLAND’S construction industry has experienced a period of growth as businesses become ‘fed up’ with the uncertainty of Brexit, latest figures claim.
Over a fifth of Scottish-based respondents in the quarter two RICS Construction and Infrastructure Market survey reported a rise in construction workloads – which is an increase from the +2 net balance in quarter one.
Workloads in both private and public housing grew in particular, with the public sector seeing the sharpest rise at 52% – up from -31% in quarter one.
The study also showed an increase in the RICS market confidence indicator, which is a ‘composite measure of workload, employment and profit margin expectations over the coming twelve-months’.
Jeffrey Matsu, RICS senior economist said, “Three years on and the long, unrelenting shadow of Brexit uncertainty is testing the mettle of the construction industry. After a prolonged period of delays and underinvestment, businesses now appear to be fed-up and are proceeding cautiously with new hiring and intentions to invest.
“With the range of possible outcomes related to Brexit as wide as ever, we expect to see continued volatility in the construction output data but in the meanwhile foresee workload activity stabilising.”
Employment expectations over the next 12 months in the construction industry also showed a predicted growth for Scotland, with the net balance for quarter one showing to be just under 10%, whilst quarter two was just below 35%.