Construction firms are likely to experience mixed fortunes during 2024 and it will be highly dependent on which sectors they are operating in. House builders and contractors working in housing new build and repair, maintenance and improvement (rm&i) continue to face a subdued environment.

Total construction output is forecast to fall by 2.2% in 2024, a marginal downward revision from the 2.1% decline in the Winter forecast. However, output is forecast to rise by 2.1% in 2025, a marginal revision upward from 2.0% in the previous forecast. Further growth of 3.6% is anticipated in 2026, but clearly, there is greater uncertainty around activity in 2026 given the impacts of a potential new government.

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• Construction Products Association
• CPA