Sharp rise in economic optimism among largest consultants

A survey of the largest consultants in construction has shown a large rise in confidence about the economy and trading conditions over the coming year.

The findings, which will be published in full this Friday as part of Building’s annual Top 150 Consultants research, show 42% of consultants expect their trading conditions to improve over the next 12 months.

This is up from 30% last year and just 13% in 2022. Conversely, just 9% this year said they expect conditions to worsen, down from 19% last year and 35% in 2022.

Similarly, 40% of survey respondents said they were positive about the general economic outlook, compared with 27% last year and 10% in 2022.

A total of 6% were negative, up from 20% last year and 42% in 2022’s poll, which was conducted weeks after Russia’s full-blown invasion of Ukraine.

Nick Gray, Currie & Brown’s chief operating officer, UK and Europe, said in an article for Building to run later this week that the shift in sentiment is “notable” and could signal a “turning point for an industry that has been plagued by uncertainty”.