Engineering Services Confident

Construction Industry

Engineering Services remain confident despite increased materials and labour costs.

Over three in four engineering services organisations (77%) say turnover increased or remained steady in Q2 2018, despite rising material and labour costs.

These are the findings of the latest BESA/ECA/SELECT/SNIPEF quarterly sector-wide Building Engineering Business Survey, sponsored by Scolmore.

Compared to Q1 2018, almost two thirds (62%) of respondents reported an increase in material costs, and nearly half (45%) reported an increase in labour costs in Q2. Retentions were held against 61% of businesses, and late payment remains an issue for over half of respondents in commercial and public sector work.

The overall outlook for Q3 appears positive and optimistic: nearly nine out of ten (88%) respondents predict their turnover will grow or remain steady for the quarter.

Source: https://www.electricaltimes.co.uk/engineering-services-confident-despite-rising-material-labour-costs/