Construction to grow 13% in 2021
The construction industry is expected to grow by 13 per cent this year, according to analysis from the Construction Products Association (CPA) and the Office for National Statistics (ONS).
The body predicts a strong double-digit rebound form the COVID crisis despite growing fears of the impact of supply constraints and uncertainty around demand for new builds.
Infrastructure was least affected by the initial lockdown and is set to grow by up to 29 per cent, largely driven by activity on major projects such as HS2.
CPA economics director Noble Francis said in Construction Enquirer: “While outlook is largely positive, the recovery in commercial – the third-largest construction sector – is expected to be muted given a lack of major investment in new projects, particularly in Central London.
“Questions remain over future demand of commercial space, particularly in offices and retail, which may be converted into residential or warehousing and logistics, if homeworking and online spending persists in the long-term.”