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News Release from: Federation of Master Builders (FMB) | Subject: State of Trade survey
Edited by the Buildingtalk Editorial
Team on 24 January 2005
Builders optimistic on spring 2005
workloads
FMB State of Trade Survey, Q4 2004, indicates that builders are optimistic on spring 2005 workloads - but will summer be as hot?
The Federation of Master Builder's (FMB's) final State of Trade survey for 2004 found small and medium-sized builders in an optimistic mood Workloads for the fourth quarter of 2004 were better than those for the same period in 2003, and almost eight out of 10 (79 per cent) respondents anticipated maintaining or further increasing both workload and employment in the first quarter of 2005
This article was originally published on Buildingtalk on 31 Oct 2003 at 8.00am (UK)
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Once again, the strongest area of work was the repair, maintenance and improvement (RMI) of existing private housing, with new private housing and RMI of private non-residential buildings also delivering positive results.
Said FMB director general, Ian Davis: "We often see a dip in workload in the winter months, which makes these results particularly encouraging at least in the short term." However, within a strong set of figures overall, there is an indication that prospects for the latter half of 2005 may not be as rosy.
While current workloads are up, the result for the change in enquiries regarding future work was very slightly negative for the first time in three years.
30 per cent of respondents reported a rise in total enquiries - eight percentage points less than in the third quarter survey - while those reporting a drop in enquiries rose to 34 per cent, giving a weighted percentage balance of minus 4 per cent.
Continued Ian Davis: "This may be attributable to normal seasonal variation rather than the start of a downward trend, but the result for the South East, where 51 per cent of respondents reported a lower rate of enquiries, is very much weaker than it was a year ago and this could be a pointer to change." Results for the South West and Eastern regions also saw a fall in the number of new enquiries, but elsewhere the picture was brighter with the North East, Yorkshire and Humberside and Wales all anticipating a significant increase in new work.
Private housing RMI is the only area of work reporting increases in current work, expected workload in the first three months of 2005 and future work enquiries.
This suggests that homeowner confidence is holding up despite recent interest rate rises.
Employment trends offer another positive indicator.
Total employment by survey respondents continued to grow in the last quarter of 2004 and employment growth is expected to continue in the first quarter of 2005.
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