Construction firms are so looking forward to 2018. Here’s why
New year, new business.
Companies in the construction sector aren’t too optimistic about business prospects during the last three months of 2017, but they are very upbeat about their chances come next year.
Data from the central bank’s Business Expectations Survey during the fourth quarter showed that construction firms are the most bullish for new business come January 2018, even logging the highest confidence index in over three years. This is because they anticipate big-ticket construction projects to start by the first quarter, covering both public and private sectors.
“In particular, construction activities related to rehabilitation efforts in Mindanao, power generation, infrastructure and communication developments were reported to be on the rise for the next quarter,” the Bangko Sentral ng Pilipinas said.
With the “Build, Build, Build” mantra of the government picking up steam, there’s definitely a lot of action in the scene as far as these companies are concerned.