CPA Construction Industry Forecast: Summer 2023

Summary by Mila Nowakowska The CPA's Summer 2023 Construction Industry Forecast gives the following indications: Construction output to fall during 2023 before growth in 2024, due to inflation. Private housing output is expected to fall in 2023 before an increase in 2024. Private housing RM&I is also anticipated to decline in 2023 and rise in 2024. Infrastructure activity is set to fall in 2023 before growth in 2024. UK construction insolvencies in March 2023 have peaked since the financial crisis. Housebuilding starts are expected to decrease in 2023. Public non-housing output is expected to fall in 2023 before enduring growth in 2024 and 2025. Refurbishment accounted for the majority of schemes started in London in the last six months.

The full report from the CPA is now available.