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21 Jan 20211 minute read

Construction boom expected in 2021

ECAtoday
Construction boom expected in 2021

Construction output is forecast to rise by 14% this year, experts say.

The Construction Products Association now believe the industry will see a ‘W’-shaped recession and recovery, as reported in Construction Enquirer.

The CPA’s latest scenarios take into account the current lockdown and are a downgrade on last summer’s numbers when an 18% increase was predicted this year before the second COVID-19 wave hit.

The 14.0% rise in 2021 follows an estimated contraction of 14.3% overall last year caused by the sharp fall during the first lockdown.

Output is now only expected to recover to pre-COVID levels in 2022 and “there is also the risk that once the furlough and self-employment support schemes end in April, there may be a sharp rise in unemployment that could potentially dampen this recovery.”