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[December 2003]
Govt. Investment Drives Construction Materials Growth
Increased government-funded work drove construction growth during the third quarter of 2003, according to the 'Construction Industry Trade Survey' compiled jointly for the first time by the Construction Confederation and the Construction Products Association (CPA). However, product manufacturers' sales indicate that the overall pace of growth fell short of the 8% year-on-year rise officially recorded for the previous quarter, while building contractors report further declines in industrial and commercial output.
Construction Confederation Chief Executive Stephen Ratcliffe said: "The survey demonstrates the importance of sustained public sector investment and the delivery of the promised renewal of this country's infrastructure. Our industry needs consistency, continuity and the security of long-term planned investment to maintain and develop its skills base as well as delivering the Government's planned improvements to the quality of life and competitiveness of our nation".
CPA Chief Executive Michael Ankers said: "The survey highlights construction product manufacturers' commitment to increased investment across the board to raise capacity and improve productivity. The industry is ready to meet the demands of the Government's spending programme, the timely delivery of which is now crucial".
ENDS