CPA – Construction Industry Forecasts 2022-2024

CPA – Construction Industry Forecasts 2022-2024

Date Published

21 September 2021

Document Type





Member-Only Resource
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Construction output is forecast to rise by 2.5% in 2022 and 1.6% in 2023 as strong growth in warehouses and major infrastructure projects offsets a slowdown in private housing and repair, maintenance and improvement (rm&i).

The forecast for this year and primarily next year has been revised down due to the lagged impact of rising inflation and, consequently, slower economic growth prospects on construction industry demand whilst labour and materials availability and cost inflation issues are likely to mean that the industry potentially sees the value of output previously expected but not the volume.