The construction industry has solidified further gains after a summer slump, according to figures released by industry analysts Glenigan.
The latest Glenigan Index shows that construction activity is shaking off the effect of one of the most unpredictable elections in recent British history as confidence returns to the industry’s clients.
The underlying value of new schemes starting on site was 2% lower than a year earlier during the third quarter.
This drop was entirely due to a weak July; both August and September saw work well above a year earlier, driven by private housing, commercial and industrial project starts.
The strongest area of expansion was in private housing, where the value of starts was up 15% on a year earlier.
Glenigan economics director Allan Wilén said: “Glenigan recorded an unprecedented freeze in university projects starting on site ahead of the election. However universities now appear to have renewed confidence in their funding and are pressing ahead with planned schemes.”
While starts have spluttered during 2015, there has been a steady flow of additions to the pipeline of future projects.