Our forecasts reflect a welcome, recurring theme as growth continues to broaden - Dr Noble Francis, CPA
THE UK CONSTRUCTION industry is expected to add more than £12bn to Britain's economy over the next two years, according to research conducted by the Construction Products Association
Released yesterday (Monday, October 20), the CPA report also said that the construction industry will grow 23% by the end of 2018.
"Our forecasts reflect a welcome, recurring theme as growth continues and begins to broaden," said Dr Noble Francis, Economic Director at the CPA, which represents the UK's manufacturers and distributors of construction products and materials.
"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."
But Dr Francis
said that although expansion should continue through to 2018, recovery "was not a foregone conclusion" because several risks remained around the strength of the UK and Eurozone economies, alongside potential supply constraints, lack of labour and material shortages.