Construction Industry Forecast Summer 2014
With private housing starts predicted to rise 18% in 2014 and 10% in 2015, the forecast for construction output is looking rosy, according to the latest figure from the Construction Products Association.
Construction output is forecast to grow 4.7% in 2014 and a further 4.8% in 2015, providing an additional £11 billion of activity to the UK economy in just two years. Overall the construction industry is expected to rise 22.2% in the next five years.
Work in private housing, infrastructure and commercial is expected to drive recovery in the industry over the next 18 months. The primary growth driver has been the £17.1 billion private housing sector. Effective demand, through rises in mortgage lending and private starts in Britain rose by 21% in 2013.
The summer 2014 edition of the Construction Products Association (CPA) construction industry forecasts predict and provide details of the expected market trends for the UK construction industry in the forthcoming years.
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