Experts predict sharp drop in growth in 2005

摘要

Growth in construction output is to fall from 3.2% in 2004 to 0.8% in 2005, according to a report published today by the Construction Products Association. The CPA is predicting falls in growth across the board, but the sectors hardest hit will be housing, down from 14.2% to 7.5%, and repair and maintenance, which will suffer an absolute fall of 3.4%. The association's findings are in line with developments in housebuilding in 2004. Although most firms posted strong results, some warned that market conditions were becoming "more challenging". Housebuilders also suffered from rapid inflation in materials costs caused by a surge in energy prices.