Search Results for: confidence

August 23, 2013

More than half of UK firms expecting to increase capital spending over next year

The latest good news for the UK economy comes from a poll conducted by Edison Investment Research of 200 medium sized companies which shows that over half (56 percent) claim they will increase capital expenditure over the next year. In the same poll in January, only a quarter made the same claim, reflecting the sharp upturn in optimism in UK businesses. In the latest EIR poll, 69 percent said they felt positive about the coming year. In the Eurozone things aren’t quite so rosy as confidence has dropped over the course of the year with 17 percent expecting growth, down from 26 percent six months ago.

August 19, 2013

CBI raises growth forecasts, but cautious on sustainable recovery

by Sara Bean • Knowledge, News, Property, Workplace

A pick-up in confidence across a broad range of sectors, including services and construction and a better than expected second quarter has led the CBI to raise its growth forecasts, with GDP growth of 1.2 per cent predicted in 2013, up from 1.0 per cent in the May forecast. In 2014, the business group expects the economy to gather pace, forecasting 2.3 per cent GDP growth, up from 2.0 per cent in May. However, unemployment rates look set to stick at around 7.8 per cent. John Cridland, CBI Director-General said: “The economy has started to gain momentum and confidence is picking up, but it’s still early days. We need to see a full-blown rebalancing of our economy, with stronger business investment and trade before we can call a sustainable recovery.” More →

August 15, 2013

CBI survey gives suppliers chance to have say on UK public sector procurement

by Mark Eltringham • Knowledge, News, Public Sector

The Confederation of British Industry (CBI) is offering private sector firms the chance to take part in a survey detailing their experience of working with UK public sector. It follows a largely damning 2012 report from the same organisation which found that only 7 per cent of firms believed the public sector procurement function was effective. However the same report did find that around 80 percent of respondents were in favour of the UK Government reform programme and so the latest survey is a chance to see whether recent initiatives such as the recent Public Administration Committee report into procurement failings and the setting up of the Crown Commercial Service have had any impact on private sector confidence in the way the UK public sector goes about its business.

August 12, 2013

Pressure to fill roles as employers struggle to persuade cautious workers to switch jobs

by Sara Bean • News, Workplace

More good news on the economy today with the Summer 2013 CIPD/Success Factors Labour Market Outlook (LMO) survey report showing that for the sixth quarter in a row, employers expect jobs growth. However, while this means more opportunities for job seekers the pressure is mounting for employers to attract the right talent. It seems that despite employment confidence being at its highest level since the 2008 recession, this isn’t shared by those already in work, who are showing a marked reluctance to change jobs, leading to a struggle for employers to find the right candidates. More →

August 12, 2013

Sharp increase in UK commercial property activity during July

by Mark Eltringham • Knowledge, News, Property

The signs that the UK’s economic recovery is now underway are given credibility with news that the UK’s commercial property sector is at its most buoyant for six years. According to a report from Savills which looked at new build and refurbishment activity during July, a fifth (20.1percent) of UK developers reported an increase in activity compared to 18.9 percent in June. Savills claims this is the greatest rate of growth since May 2007. The rise was driven primarily by an increase in private sector work as reported by nearly a third (31.4 percent) of developers, with only 1.4 percent reporting a rise in public sector activity. Developers are also optimistic about their prospects in the near future, with a quarter (25.1 percent) saying they were positive about what would happen over the next three months, up from 14 percent in June. The Savills report links this positivity to greater occupier confidence and more finance from banks.

August 7, 2013

Costs of tenders deterring Scottish builders from bidding for public sector work

by Mark Eltringham • Knowledge, News, Property, Public Sector

Construction firms in Scotland are increasingly reluctant to bid for public sector building work because of the spiralling costs of tendering for work, according to a new survey from the Scottish Building Federation. The SBF claims that the cost of tendering for public sector contracts has sky-rocketed in the past five years – and is now equivalent to £94 million each year as firms vie for a share of the £2 billion worth of public sector construction contracts awarded annually in Scotland. The survey claims that the annual cost to construction firms of participating in public procurement is now 4.4 percent of the total value of contracts, with builders reporting an increase of between 20 percent to 50 percent on most projects over the last five years.

July 29, 2013

Fewer London firms plan to expand within the capital reports CBI

by Sara Bean • Facilities management, Knowledge, News, Property

As we’ve reported previously London is enjoying a booming office rental market, but according to the latest CBI/KPMG London Business Survey, high operating costs are making the capital less of an attractive prospect. While more of London’s businesses plan to expand during the next year, fewer are planning to do so in the capital, with high operating costs and housing shortages cited as the biggest concerns. London’s firms also plan to spend relatively more on recruitment and training; product and process innovation; and IT plant and machinery, but less on land and buildings. More →

July 16, 2013

Corporate Real Estate executives predict strong global economic outlook

by Sara Bean • Facilities management, News, Property

The global economic outlook is strong for the second half of 2013, while the prospects for corporate growth and expansion are also increasing, according to the views of corporate executives surveyed in June for the new CoreNet Global Confidence Index. Nearly two-thirds (62.5%) rated their outlook on the global economy for the coming six months as optimistic to very optimistic, compared to a year ago. Most (72.4%) reported the likelihood that flexible, open workplace strategies will increase, while space per work setting and/or work settings per supported worker will be reduced.

July 2, 2013

New Construction Strategy focuses on sustainability and efficiency

by Sara Bean • Environment, Facilities management, News, Property, Public Sector

An industrial strategy for construction – ‘Construction 2025’ is being launched by the Coalition Government today which aims to tap into the considerable growth opportunities predicted for the global construction market. The strategy has been developed in partnership with the new Construction Leadership Council, jointly chaired by Business Secretary Vince Cable and Sir David Higgins, Chief Executive of Network Rail, formed to help oversee the delivery of the action plan and its strategic priorities. The strategy’s vision to 2025 includes ambitions for a 50 per cent reduction in greenhouse gas emissions in the built environment, and an equal reduction in the trade gap between total exports and total imports for construction products and materials. More →

June 5, 2013

Applications for UK commercial property developments continue to fall

by Mark Eltringham • Knowledge, News, Property

According to law firm EMW LLP, the number of planning applications submitted for commercial property developments in the UK has fallen for a second successive year. The firm claims that the around 4 percent fall is down to declining demand from tenants. However there are stark contrasts between London and the rest of the UK measured both in terms of market activity and the number of tower cranes on the skyline, with London now having more than the rest of the UK combined for the third consecutive year according to the Health and Safety Executive. The report echoes the findings of the latest Markit/CIPS report on construction activity which saw a fall in construction activity, although total activity increased on the back of an increase in housebuilding.

May 31, 2013

UK employment recovery could take up to four years finds research

by Sara Bean • Knowledge, News, Workplace

It will now be more than four years before the UK restores the employment rate of 2008 – and jobs recovery could take far longer. According to a new analysis from independent think tank the Resolution Foundation, it is now all but certain that the current jobs recovery will take longer than that following either the 1980s or 1990s recessions. The new findings are based on calculations of the UK ‘jobs gap’, the number of jobs the UK needs to create in order to restore the 2008 employment rate. The tough figures are explained partly by the UK’s ageing workforce, as a third of the current jobs gap is down to the growing share of the workforce aged over 64, which is growing twice as fast as the population aged 16-64. More →

May 29, 2013

Crown Estate in £320m joint venture to redevelop area around Regent Street

by Sara Bean • Company news, News, Property

The Crown Estate, which manages the Queen’s property portfolio has announced a joint 50/50 – £320 million venture with Canadian real estate company, Oxford Properties. The Crown Estate, which will retain the freehold and take the lead role in the development says the St James’s scheme will provide 210,000 ft² of prime office and 50,000 ft² of flagship retail and restaurant space in two blocks located between London’s Regent Street and Haymarket. The project forms part of the Crown Estate’s ten-year investment strategy for St James’s and will transform a run-down back street service yard and taxi ‘rat-run’ with: “a fantastic new amenity for St James’s, revitalising half and acre of public realm and creating a new 10,000 ft² pedestrian square for world-class business, shopping and dining.” More →