30 October 2014
Construction set to grow 23% by 2018
The Construction industry is predicted to grown 23% by the end of 2018 according to the latest Construction Products Association Autumn Forecasts.
Key highlights of the forecast include:
- Construction output will grow 4.8% in 2014 and 5.3% in 2015
- Private housing starts are expected to grow 18% in 2014 and 10% in 2015
- The private commercial sector is set to increase 3.7% in 2014 and 6.1% in 2015
- Roads construction will rise 46.1% by 2018
- Energy infrastructure is anticipated to grow 118.2% in 2018
Dr Noble Francis, Economics Director of the Association, said ” Our forecasts reflect a welcome, recurring theme as growth continues and begins to broaden. Short term activity is still led by private housing, infrastructure and commercial, and areas of public sector construction are showing the first signs of increasing strength. We believe the expansion will continue through 2018.
