Construction Activity Slows in Q3 but Continued Growth is Forecast says CPA

News Item
25 Nov 2015
The Construction Products Association expects further growth for the construction industry, although the latest forecast reflects a downward revision since the summer owing to a slowdown in third quarter housing and commercial activity. Construction output is expected to increase 3.6% and 3.8% in 2015 and 2016, respectively, revised down from 4.9% and 4.2% in the Summer Forecast.
The slowdown in Q3 activity is expected to be temporary and construction output is expected to rise by 19.7% between 2015 and 2019, driven by growth in the three largest construction sectors; private housing, commercial and infrastructure.
Highlights from the forecasts include:
• Total construction output is forecast to rise 3.6% in 2015 and 3.8% in 2016
• Private housing starts are anticipated to rise 7.0% in 2015 and 5.0% in 2016
• Public housing starts are expected to fall 10.0% in 2015 and 5.0% in 2016
• Infrastructure output is forecast to rise 13.2% in 2015 and 7.6% in 2016
• Key risks include skills shortages and government austerity

For further information and full press release click here.