Construction output is forecast to fall by 7.0% in 2023, primarily due to sharp falls in activity in the two largest construction sectors, private new housing and private housing repair, maintenance and improvement (rm&i). Output in the third largest construction sector, infrastructure, has also been revised down again due to government delays to roads and rail projects that will only add further cost to the projects when they return.  Construction output is forecast to increase in 2024, by 0.7%, as wider economic growth boosts demand for both new build housing and rm&i activity.

• Construction output falls by 7.0% in 2023 before growth of 0.7% in 2024
• Private housing output falls by 19.0% in 2023 and rises by 2.0% in 2024
• Private housing repair, maintenance and improvement to fall by 11.0% in 2023 before growth of 2.0% in 2024
• Infrastructure output to fall by 0.5% in 2023 and rise by 1.0% in 2024
• Industrial output to rise by 0.3% in 2023 before falling by 9.0% in 2024

I'm interested in:

• Construction Products Association
• CPA