Forecast: Construction Output in the UK

The forecasted construction output in the UK from 2024 to 2028 indicates a steady year-on-year growth, with values increasing from 3.61% in 2024 to 3.74% in 2028. This represents consistent yet moderate annual growth rates of approximately 0.03 to 0.04 percentage points per year. As of 2023, construction output had already shown a trend towards gradual expansion, laying the groundwork for these forecasts.

Future trends to watch for include:

• The impact of economic conditions, such as inflation and interest rates, on construction costs and project viability.
• Government policies boosting infrastructure investment, which may accelerate growth rates beyond current forecasts.
• Technological advancements in construction methods potentially enhancing productivity and efficiency.
• Environmental regulations and sustainability initiatives influencing project planning and output.