The construction sector is recovering more quickly than expected, according to economists from financial services group ING in a new report.

In February, ING said it was unlikely the sector would grow in 2014 but they now say the increase will be 3.5% this year and 2.5% in 2015.

Maintenance and redevelopment will lead the way, and the reduction of the value added tax rate (btw) on renovations is having a positive impact, the economists are quoted as saying by Nos television.

Construction companies are now more optimistic about the future than they have been at any time over the past years. Nevertheless, four in 10 companies still do not have enough work to keep staff busy.