The Construction Products Association (CPA) released predictions earlier this year for at least four more years of sustained growth for the construction industry.
UK economic growth as a whole has slowed to 2.5% according to reports by PWC; however this figure still represents the strongest growth rate of larger European economies. The construction sector is set for 4.9% growth in 2015, which is almost double the rate of growth of the UK economy as a whole. Furthermore by 2019 close to 22% growth is expected in the construction sector. These figures represent close to £27 billion worth of extra economic activity, which will be driven by both private and public sector construction.
The main sub-sectors driving this growth are private housing, commercial and infrastructure. Annual 10% rises in infrastructure output will generate a surge in growth at nearly twice the rate of annual inflation.