Building Engineering Business Survey (ongoing)
Engineering services confident despite rising material and labour costs
ECA, BESA, SELECT and SNIPEF research shows steady growth in Q2 2018
Over three in four engineering services organisations (77 per cent) 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 per cent) of respondents reported an increase in material costs, and nearly half (45 per cent) reported an increase in labour costs in Q2. Retentions were held against 61 per cent 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 per cent) respondents predict their turnover will grow or remain steady for the quarter.