UK SMEs in the construction industry were the most confident about sales growth for the three months to October, according to Bibby Financial Services.
Research by the company found that 61% of construction companies expected sales to rise in the third quarter, compared 53% in the second quarter.
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This has led to a rise in optimism among sub-contractors and smaller construction firms, said managing director of construction finance at Bibby, Helen Wheeler.
Wheeler said; "With the summer months the busiest time of the year for the construction industry, it is heartening to see that SMEs in the sector are confident about sales growth. This shows that work is spreading through the chain and sub-contractors are benefitting.
"We have seen an upturn in the number of construction firms looking for finance and in the second quarter, we provided £58 million in funding to the sector, up from £54 million in the first three months of the year."
The research, which involved 1,000 SMEs from various sectors found 57% of SMEs expected sales to increase in the third quarter, down from 64% asked in the first quarter.
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By GlobalDataThese findings came despite Office for National Statistic’s first GDP estimate for the second quarter suggesting construction growth fell 0.5% in the second quarter.
