Construction Industry Forecast (Winter 2023-24)

29 January 2024

According to the CPA (Construction Products Association) Winter Forecast, construction output is expected to fall by 2.1% this year due to falls in private housing new build and repair, maintenance and improvement (rm&i).

The CPA forecasts that construction output will rise by 2.0% in 2025 in line with falling interest rates and a general economic recovery, which, in turn, could ease challenges in the housing and rm&i sectors. Recent disruptions in the Red Sea, however, have been identified as a key risk to the forecasts, potentially leading to supply issues such as delays and accelerating cost inflation.

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