Output forecastshow recovery

摘要

The latest forecast update from the Construction Products Association offers further evidence of a tentative recovery for the industry. Construction output is now expected to decline by just 0.5 per cent, marking an improvement on the 1.5 per cent fall predicted in the summer, with whispers that we . could potentially see a flat rate of growth for 2013 by the year end. This is forecast to be followed by growth of 2.7 per cent in 2014 and 4.6 per cent in 2015, compared with previous predictions of 2.2 and 4.5 per cent respectively. Over the forecast period to 2017, the industry is looking at an average annual growth rate of 3.4 per cent. Unsurprisingly, private housing remains the main driver.