Pro Installer May 2015 - Issue 26 | Page 59

59 PRO INSTALLER MAY 2015 @proinstaller1 PRO BUSINESS Layar Ad [Pro Installer] - HLF.pdf 1 14/05/2015 16:25:22 Introducing... Interactive Print Election Uncertainty Hinders Construction Prospects Construction output is forecast to increase 5.5% in 2015 according to the latest forecasts from the Construction Products Association; however, growth is expected to slow in the following two years due to the impacts of election uncertainty. Key highlights from the forecasts include: • Private house building forecast to rise 10.0% in 2015, 5.0% in 2016 and 3.0% in 2017 • Commercial construction expected to increase 6.4% in 2015, 5.2% in 2016 and 4.4% in 2017 • Infrastructure activity forecast to rise 7.6% in 2015, 9.2% in 2016 and 10.6% in 2017 Dr Noble Francis, Economics Director, commented: “Construction output is forecast to increase 5.5% in 2015, which is more than double the rate of growth for the UK economy. “There has been a slowdown in the general housing market but house building continues to drive construction industry growth. After rising 13.3% in 2014, private house building is forecast to increase a further 10.0% to 142,000 new homes in 2015. Commercial construction, worth £22 billion each year, is forecast to rise 6.4% in 2015. “Over the following two years, however, construction output is forecast to be adversely affected by the UK’s most uncertain election in more than 40 years. The lag between construction contracts and work Steve Sidebottom - Director, Clearview Group Limited C M Y CM MY CY CMY K on the ground means that construction activity in 2015 probably won’t be impacted, since the majority of work for the year has already been planned. Instead, we expect a break in private and public investment this year for future projects, which in turn will lead to slower construction growth of 4.0% in 2016 and 3.4% in 2017.” Dr Francis continued: “Although fewer homes are being built than we need each year, private house building growth is forecast to slow to 5.0% in 2016 and 3.0% in 2017. Again, this is primarily due to uncertainty regarding government policy such as Help to Buy, which has otherwise stimulated house building in the last two years. “Similarly, increases in commercial activity are likely to be constrained by a hiatus in business investment this year due to the election, with growth in the sector expected to slow to 5.2% in 2016 and 4.4% in 2017. “One area expected to be largely unaffected by the election is infrastructure activity, which is anticipated to increase throughout the forecast period to 2018. Strong growth of 7.6% this year, 9.2% in 2016 and 10.6% in 2017. www.constructionproducts.org.uk Use the Layar app to see what Steve has to say... Simply download the app using the QR code below then scan this advert to let Steve introduce you to the new interactive experience available in Pro Installer print editions. Alternatively, you can download the Layar app from get.layar.com Download the app for FREE Tel: 01226 321450 www.proinstaller.co.uk INTERACTIVE PRINT Download the free Layar App Scan this page Discover interactive content