Weekly Economic and Construction Update – 27 October 2023
Date Published
27 October 2023
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Author
Jack Clappen
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Summary
Construction output is forecast to fall by 6.8% in 2023, broadly unchanged since the 7.0% forecast three months ago, as activity has largely evolved over the Summer as expected and activity continues to fall away in the two largest construction sectors, private new housing and private housing repair, maintenance and improvement (rm&i).
The RICS UK Commercial Property Monitor for 2023 Q3 remained downbeat, with tighter financial conditions and a sluggish economic backdrop weighing on investor and occupier markets.
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