Construction Industry Forecast - Autumn 2022
07 November 2022
Construction output is forecast to rise by 2.0% in 2022. As activity currently continues at a high level but output is anticipated to fall by 3.9% in 2023 as a looming UK economic recession, falling real household incomes and rising interest rates, adversely affect demand for sectors such as private housing new build and repair, maintenance and improvements. This is occurring at a time when cost inflation is also hindering project viability in other areas of the industry such as commercial new towers and infrastructure.
