New construction orders out today show a marked increase for this last quarter compared with the previous one. However orders are still 4% lower compared with this time last year, with experts warning that the industry had still not turned the corner.
There was a steep quarter-on-quarter rise in private industrial new work and private commercial new work, which grew by 58% and 28%, respectively.
More worryingly, the two areas often view as prime drivers of economic growth and benefitting from Government stimulus measures did less well. There were decreases in infrastructure new work (14%) and private new housing (11%), compared to the last quarter of 2011. The figures will put more pressure on the government to take steps to bolster these areas.
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