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Architects now upbeat after 10-months of work gloom

May 24, 2024
in Business
Architects now upbeat after 10-months of work gloom
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According to the latest Royal Institute of British Architects monthly trade survey the industry workload index is positive (+2) for the first time since June 2023.

This ends the longest spell of gloom since the survey began in 2009.

Over the next three months, 19% of practices expect workloads to increase, 17% expect them to decrease, and 63% expect them to stay the same.

The outlook of small practices (1-10 staff) remains negative but better, rising by 1 point to -1, while the outlook of medium (11+ staff) and large (50+ staff) practices remains optimistic, improving by 5 points, reaching a combined Workload Index figure of +19.

The outlook for the private housing,  commercial and community all improved.

Regionally, the picture remained mixed. The workload outlook of practices in the South of England stands out at +24, a 36-point improvement and the first positive figure for the region since March 2023.

The outlook in the North of England remains positive at +11. However, London’s confidence dipped by 3 points to -2, Wales and the West fell by 3 points to -5, and the Midlands & East Anglia dropped 12 points to -15.

RIBA Head of Economic Research and analysis Adrian Malleson said:  “The latest future trends data paints a positive picture of growing workloads.

“April’s findings are the most encouraging for some time, and part of a longer-term trend of an improving outlook, despite month-on-month fluctuations.

“Caution is still needed, as workloads are lower than a year ago, with a mixed regional picture and high personal underemployment. However, the vital housing and commercial sectors show early signs of a tentative recovery.

“Some practices also note a strengthening market overall, an uptick in the public housing sector, and the significance of overseas work.”

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : ConstructionEnquirer – https://www.constructionenquirer.com/2024/05/24/architects-now-upbeat-after-10-months-of-work-gloom/

Tags: Architectsbusinessupbeat
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