Association Forecasts Renewed Optimism for Construction
The Construction Products Association’s latest Forecast anticipates that growth in private house building, infrastructure work and commercial activity are set to drive recovery in the industry over the next four years.
Key highlights include:
- Construction output is expected to rise by 3.4% in 2014 and by a further 5.2% in 2015;
- Growth is projected to continue throughout the forecast period, to 2017; however,
- Considerable uncertainties remain regarding the long-term sustainability of the recovery in the industry and wider economy in the latter years of this forecast, post-201
Dr Noble Francis, Economics Director of the Association, commented: “The construction industry is in a very different place to just one year earlier, when output fell to a level 15.4% below its pre-recession peak. Since 2013 Q1, activity has picked up considerably. Initially this was due to a rapid expansion in house building but more recently growth in new infrastructure and a recovery in London commercial activity have supplemented further rises in private housing.
To read the full report please visit. http://www.constructionproducts.org.uk/news/press-releases/display/view/association-forecasts-renewed-optimism-for-construction/