How EU uncertainty hits growth

摘要

Almost 18 months on from the Scottish referendum, uncertainty is once again on the minds of construction CEOs as the UK prepares for the landmark EU vote on 23 June. While construction output has been volatile in recent years, there's been a period of relatively strong growth from early 2013 to mid-2015, helped partly by a bounce-back in UK-wide housing construction, commercial developments in London and government-led infrastructure programmes. While growth in 2016 is expected to continue at a slower pace than before, our latest UK Economic Outlook forecasts an additional 200,000 construction roles by 2025. So what areas could be hit by short-term uncertainty - and in the longer term, what are the issues for the industry around EU membership?