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13/01/2023
NI Construction Industry Reports Continued Reduced Workload
Financial constraints and a challenging economic environment continue to impact Northern Ireland's construction industry, according to a new report.
The report found that workloads have remained in "negative territory" for last three financial quarters.
NI's construction industry is also less optimistic than counterparts elsewhere in the UK, expecting workloads to decline over the next year.
Jim Sammon, RICS NI Construction Spokesman, said: "2022 has certainly been a turbulent year for the construction industry in Northern Ireland, with cost increases and declines in workloads, mixed with the challenge of a lack of government. The tone of the industry in Northern Ireland isn't as upbeat as can be seen in other parts of the UK. The disparity between Northern Ireland and the rest of the UK appears to be linked in part to infrastructure workloads. Big infrastructure projects are driving industry growth in GB, whilst Northern Ireland respondents are actually reporting less activity in infrastructure. Both infrastructure work, and public sector projects, are a huge part of the construction industry, and help support our local economy. RICS in Northern Ireland is calling for a working NI Executive to ensure that necessary investment in the economy and our infrastructure can be delivered efficiently and in a timely way."
Michael McCord, Senior Partner at Tughans added: "2022 was a challenging year for the construction industry and it is disappointing to see Northern Ireland lagging other regions of the UK. As the survey suggests, the reinstatement of the Northern Irish Executive is critical to ensure Northern Ireland competes with the rest of the UK on large infrastructure projects, although it is not just the public sector which is flat. Private housing and commercial development are also in decline. We need investment in 2023 to continue to improve Northern Ireland's competitiveness, to drive employment, and to reduce the impact of inflationary pressure, low customer confidence and tighter monetary policy."
The report found that workloads have remained in "negative territory" for last three financial quarters.
NI's construction industry is also less optimistic than counterparts elsewhere in the UK, expecting workloads to decline over the next year.
Jim Sammon, RICS NI Construction Spokesman, said: "2022 has certainly been a turbulent year for the construction industry in Northern Ireland, with cost increases and declines in workloads, mixed with the challenge of a lack of government. The tone of the industry in Northern Ireland isn't as upbeat as can be seen in other parts of the UK. The disparity between Northern Ireland and the rest of the UK appears to be linked in part to infrastructure workloads. Big infrastructure projects are driving industry growth in GB, whilst Northern Ireland respondents are actually reporting less activity in infrastructure. Both infrastructure work, and public sector projects, are a huge part of the construction industry, and help support our local economy. RICS in Northern Ireland is calling for a working NI Executive to ensure that necessary investment in the economy and our infrastructure can be delivered efficiently and in a timely way."
Michael McCord, Senior Partner at Tughans added: "2022 was a challenging year for the construction industry and it is disappointing to see Northern Ireland lagging other regions of the UK. As the survey suggests, the reinstatement of the Northern Irish Executive is critical to ensure Northern Ireland competes with the rest of the UK on large infrastructure projects, although it is not just the public sector which is flat. Private housing and commercial development are also in decline. We need investment in 2023 to continue to improve Northern Ireland's competitiveness, to drive employment, and to reduce the impact of inflationary pressure, low customer confidence and tighter monetary policy."
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The full list of recipients of honours in the 2005 Birthday Honours list for Northern Ireland is as follows: Knighthood: Mr Hugh Orde OBE, Chief Constable, Police Service of Northern Ireland - for services to Northern Ireland. CBE: Mr Robert David Stewart Campbell, Belfast - For Political and public service.
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