Confidence is highest in the island’s construction sector, according to a new report.

The Isle of Man Business Confidence Survey invited feedback from local employers to gauge business activity, future employment and investment for all sectors of the economy.

The report covered the following sectors: manufacturing, services, retail and wholesale, construction and finance.

And according to the survey ’the most confident sector is construction’.

The least confident sector is said to be financial services, ’driven largely by a prudent outlook over the next six months’.

The results from the 2019 survey which was conducted in April, indicate that construction business over the traditionally subdued winter period has been strong and much improved.

And it indicated employment growth over the next six months is the largest this sector has reported since the series of surveys began, with most of this expected to be full time.

Employment in construction has not changed on balance over the past six months,

Current orders are said to be healthy, although current orders on average account only for the next 3.3 months of output.

The report indicates also that shortage of labour is ’currently the most significant barrier for the sector’.

But overall the report notes: ’The construction sector is highly optimistic for the outcomes of the next six months and indicate that uncertainty over Brexit has not negatively impacted business.’

Gary Blackburn, managing director of Absolute Scaffolding, said the survey was very much in line with his own feelings about the construction sector.

In May he told Business News of his optimism and the fact that ’certainly there seems to be these little green shoots appearing’ which spelled good news for the sector.

He said yesterday (Wednesday): ’My opinion has not changed.

’I still feel this last 12 months or so that we are finally coming out of the doldrums of the last few years where the building trade has been quiet.

’We seem to be getting more inquiries, there are different bigger sized jobs about, housing developments and things that are going through planning at the moment.’

He added that business had been busy enough last winter for the business to maintain its full quota of staff.

He added that there was a ’good feeling’ in the construction industry at the moment.

Enterprise Minister, Laurence Skelly MHK, said: ’It’s encouraging to see construction looking forward with confidence, and anticipating growth and new jobs.

’Large public sector schemes are taking place along with private developments, which have helped give the sector a real boost over the winter months.’

He added: ’It’s worth noting the latest report has been compiled in a challenging economic climate due to Brexit risks and this will have an effect on our outlook locally.’

All sectors report a generally optimistic outlook, although uncertainty around Brexit means some businesses are cautious in making investment decisions, with retail and wholesale businesses being particularly impacted.

The survey also indicated further improvements in satisfaction with the work permit system, and found that 75% of employers currently feel that it is easy to do business in the Isle of Man. There was also a strong improvement in satisfaction with Government’s support for innovation and technology, which follows increased activity in this sector.

The Isle of Man Business Confidence Survey report is published on the Economic Affairs Division section of the Government website.