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Construction growth predictions downgraded

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World Cement,

Forecasters have lowered construction growth predictions for this year and next owing to a slowdown in Q3 housing and commercial activity.

The association has predicted output growth of 3.6% in 2015 and 3.8% in 2016, lowered from the summer forecasts’ expectation of 4.9% and 4.2% respectively.

The revisions were made in response to data from the Office for National Statistics, released in November that suggested construction output fell by 2.2% in Q3 compared with Q2.

The CPA credited this slowdown primarily to weak results in housing and commercial activity.

Edited from sources by Joseph Green. Sources: Construction Enquirer, Construction Index, Construction News

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