While construction sector leaders are confident, 94 percent say they have been adversely affected by tariffs, shipping delays and shifting trade regulations in the past year. Photo: Supplied/ Unsplash - Josh Olalde
Construction sector leaders (93 percent) remain confident about the industry's outlook over the next five years, despite persistent economic pressures.
Equipment hire company Kennards Hire's annual Construction Confidence Check, which included a survey of New Zealand business leaders for the first time, indicated confidence was high on both sides of the Tasman.
Survey responses from 205 mid to large New Zealand construction businesses found nearly all (99 percent) decision makers were either actively implementing or exploring cost-saving strategies to maintain their competitive edge.
Businesses were looking to invest more in technology (68 percent) to improve planning and project management, though less than half (47 percent) were looking to hire more staff.
Operational inefficiencies were dragging down project delivery and profitability with 96 percent reporting additional costs arising from delays or reduced productivity.
In addition, 94 percent said they had been adversely affected by tariffs, shipping delays and shifting trade regulations in the past year.
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