Construction body sees industry adding about £11bn to UK economy
The Construction Products Association will today forecast that the industry will grow about 10 per cent and add about £11bn to the economy over the next two years.
Among its other forecasts, the association expects construction output to grow 4.7 per cent in 2014 and 4.8 per cent in 2015, and total output to rise 22.2 per over the next five years.
It also expects private housing starts to increase 18 per cent in 2014 and 10 per cent in 2015 and commercial offices output to grow 10 per cent in 2014 and eight per cent in 2015.
Dr Noble Francis, economics director of the association, which represents the manufacturers and distributors of construction products and materials, said: “The forecasts reflect the increasing strength of the sector, though risks remain. We anticipate the recovery will continue through the forecast horizon in 2018 and broaden both across sectors and regions.”