Sales expectations in the construction sector for the next six months have dropped since April last year.
Forty four percent of companies taking part in the latest UK Construction Industry Barometer survey are confident of a sales increase over the next six months compared to 56% in April 2017.
The housing market, both new build and repair and maintenance, is expected to be the best performing sector. The average sales increase over the last six months (October 2017 to March 2018) compared to a year earlier was 2.8%, a decrease from 4.3% seen in April 2017.
Marketing budgets have seen a slight increase compared to April 2017. The average forecast increase in marketing spend for the next 12 months has increased from 0.3% in April 2017 to 1.6% in April 2018.
The April 2018 Construction Industry Barometer, completed by senior executives from across the construction supply chain, was published by construction market research firm Leading Edge, in association with The Chartered Institute of Marketing’s Construction Interest Group and Construction News.
Mel Budd, Director at Leading Edge, said: “The survey shows that 42% of companies are planning an increase in their marketing budgets, with 34% looking to increase their headcount over the next year.”
Budd added that “Brexit is continuing to cause uncertainty in the UK construction industry, with labour availability, labour costs and increasing material costs due to exchange rates causing concern.”
Download Leading Edge’s Construction Industry Barometer report at http://www.lead-edge.co.uk/downloads-and-reports/construction-industry-barometer/