AKC News // Construction Industry Review 2005 and Outlook 2006 -2008

Construction Reveiw 06-08 Publication of Construction Industry Review 2005 and Outlook 2006 -2008

"The performance of the construction industry in the past twelve months has again exceeded expectations" the Minister for the Environment Heritage and Local Government, Mr. Dick Roche, TD, said today (6th October, 2006). "The outlook remains positive with the immediate trend being towards further growth. All keys sectors of the industry are now performing strongly. While house building continues to be the pace-setter, commercial development and public investment are also performing strongly. In particular the strong investment in industrial, office and retail development signals a growing level of confidence which augurs well for the economy as a whole and indicates that Government policies are having the desired effect".

The Minister was speaking at the launch of the Review of the Construction Industry 2005 and Outlook 2006-2008 produced by DKM Economic Consultants. The report, which is produced annually, is an independent economic assessment commissioned by the Department of the Environment, Heritage and Local Government.

Among the key findings highlighted are that:

  • The value of construction output in 2005 was €31.5 billion which represents 23% of total GNP;
  • Housing output is on course to deliver 90,000 units in 2006 (after defying all expectations to deliver another record-breaking output of 81,000 units in 2005);
  • Direct employment in the sector has now reached an unprecedented high of 264,300 people;
  • The private non-residential construction sector (which includes investment in office, industrial, retail, tourism and agricultural building) performed strongly with overall output up by 19% in 2005.

Minister Roche expressed confidence that the current high levels of employment and activity in the sector can be sustained: "House-building will continue to perform strongly for the foreseeable future underpinned by a strong economy, changing demographics and strong net inward migration. In tandem with this private non-residential investment will again grow by 19% in 2006 while the ongoing intensive programme of investment in public infrastructure will continue with new momentum coming from initiatives such as Transport 21, the housing commitments in Towards 2016 and the public capital investment arising out of new National Development Plan 2007 -2013 which is currently being prepared."

Click here to download the full of the Construction Industry 2005 and Outlook 2006-2008 report in PDF format.

Source: Department of the Environment, Heritage and Local Government

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Date : 31-01-2007