Confidence amongst Flemish construction entrepreneurs has improved for the first time in a year, according to a quarterly barometer published by Flemish construction federation Bouwunie.
The General Director, Jean-Pierre Waeytens, urged the forthcoming government to provide critical support to sustain this minor recovery.
In the second quarter, the confidence index rose to 97.5 points, a marginal increase from the first half of the year. This demonstrates the first upturn in entrepreneur confidence in 12 months.
"The worst finally seems to be behind us," Waeytens commented, indicating continued signs of improvement as order books are slowly filling for the second consecutive quarter.
Despite this, confidence remains disappointingly low. Bouwunie recognises the "healthy limit" of 100 points on the confidence scale – a point not reached since the third quarter of 2021. The federation points out major challenges such as high labour costs, low profitability and a slowdown in residential construction.
The construction federation therefore calls for "essential support" from the upcoming government. Specifically, Bouwunie advocates a reduced VAT rate on demolition and rebuild projects.
