Construction sector stagnates due to rising costs and competition

Private and non-private residential construction works also fell in 1Q24.

Overall construction activity remained slow in 1Q24, with private and non-private residential construction stuck in negative numbers, RICS reported.

Private and non-private residential construction net figures were at -33 and -27, respectively, whilst overall construction activity remained at -14.

Within the infrastructure space, ICT workloads dropped -16 in 1Q24 from +2 in the previous quarter, whilst the water and waste activities recovered to +5th from -6.

In the next 12 months, infrastructure activity may see a slight increase.